US OPEN: Nasdaq rebounds! Microsoft and Lam Research earnings revive AI trade!
US index futures rose as investors weighed mixed Big Tech earnings and macro data. Nasdaq 100 futures led (+3.3%). Microsoft shares jumped after Q4 beats, while Meta fell on weaker guidance and higher AI costs. Lam Research surged on Q4 results. US GDP growth slowed to 1.5% annualized in Q2, with Core PCE slightly missing.
How this was made
The 30-second read
Why it matters
Fresh earnings beats and guidance changes are driving single-name repricing, while the macro slowdown and inflation measure miss add to rate-sensitivity and volatility risk.
Market read
Traders get same-day, number-backed earnings catalysts for several large-cap and semicap names, plus a Nasdaq 100 technical map for near-term positioning.
What to watch
For CROX and HOOD, the direction of the stock reaction is driven by forecast mix (Q3 vs full-year, crypto revenue vs opex), so traders should avoid extrapolating the headline beat alone.
Background
The piece frames a volatile US tape with a dense macro calendar and diverging Big Tech earnings, then highlights specific earnings reactions and a Nasdaq 100 technical setup.
Ticker impact
Microsoft shares jumped 14% after Q4 revenue and EPS beat, with Azure growth accelerating to 43% YoY and capex guidance lowered.
Near-term bullish bias, with follow-through risk if AI cost narrative re-emerges.
The article cites specific beat metrics, Azure growth acceleration, and a concrete capex guidance reduction, which are direct drivers of repricing.
Meta shares fell 9% after a soft Q3 revenue outlook and higher low-end FY capex guidance, alongside EPS pressure from legal and severance charges.
Near-term downside or choppy trading until investors get clearer AI cost-to-revenue trajectory.
The text provides the direction and magnitude of the move plus the specific guidance and cost drivers.
Lam Research surged 20% after Q4 results beat expectations, with revenue up 30% YoY and Q1 adjusted EPS guidance above estimates.
Bullish near-term, with volatility if broader semis guidance disappoints.
The article gives strong beat and guidance numbers, but it is still one-company results within a broader tape.
Starbucks rose 1.5% after raising full-year adjusted EPS guidance and reporting Q3 US same-store sales up 7.9%.
Mild bullish bias, likely limited unless margins or traffic trends accelerate further.
The article includes guidance and a key operating metric, but the move is smaller than the mega-cap semis.
Baxter International jumped nearly 17% after strong Q2 results and an increased full-year EPS outlook to $1.95-$2.15.
Higher probability of continued strength over days if investors extend the earnings revision cycle.
The article provides both beat figures and a raised full-year outlook, but no valuation context is given.
Crocs plunged 12% on a weak Q3 adjusted EPS forecast, despite beating Q2 and raising full-year EPS guidance and buyback size.
Choppy to bearish near-term until the market digests the Q3 forecast gap.
The article explicitly contrasts the weak Q3 forecast with raised full-year guidance and a larger buyback, explaining mixed sentiment.
Robinhood fell 1.8% despite beating Q2 revenue and EPS, as full-year operating expense guidance was lowered and crypto revenue dropped 38% YoY.
Range-bound with downside risk if crypto weakness persists.
The article includes the key drivers of the move, but it is unclear whether the market focused more on crypto or expenses.
Apple is mentioned as having earnings on deck, but the article provides no Apple-specific new results or guidance.
Not assessable from this article.
Apple is only referenced in a calendar context without any new Apple data.
Market effects
AI trade read-across: MSFT Azure strength and LRCX semicap beats support AI capex optimism, while META capex and guidance pressure tempers the narrative.
US-focused: Nasdaq futures lead the rally, implying tech beta outperformance versus broader indices.
Macro backdrop includes US growth and inflation prints context, which can amplify cross-asset volatility around Big Tech earnings.
Counterpoint
The rally may be earnings-driven but fragile, since the article also flags cautious sentiment from Treasury yield swings and AI return scrutiny.
Key entities
- companyMicrosoft
Q4 revenue and EPS beat, Azure growth acceleration, and lowered full-year capex guidance.
- companyMeta Platforms
Soft Q3 revenue outlook and higher low-end FY capex guidance, with EPS pressured by legal and severance charges.
- companyLam Research
Q4 beat and Q1 adjusted EPS guidance above estimates, supporting AI semicap sentiment.
- index_futureNasdaq 100 futures (US100)
Technical recovery attempt after sell-off, with key EMA and support/resistance levels cited.
- macroUS economy (Q2 2026 GDP, Core PCE)
GDP growth slowed and Core PCE slightly missed expectations, contributing to volatility.
