Market

US Stocks Rally in Premarket on Robust Corporate Earnings

The US stock market displayed a bullish trend during the premarket session on Friday, recovering from Thursday's losses. The Dow Jones Industrial Average gained 100 points, or 0.23%, while the Nasdaq 100 and S&P 500 rose by 0.63% and 0.32% respectively.

Driving this upward momentum were strong corporate earnings reports. Costco's first-quarter net sales surged by 7.5%, reaching $60.99 billion, and Broadcom's Q4 revenue jumped 51% to $14 billion, leading to a 13.98% surge in its stock price.

In other corporate news, Amazon announced a $1 million contribution to President-elect Donald Trump's inauguration, matching Meta's earlier pledge. Furthermore, reports indicate a meeting between Trump and Google's CEO at Mar-a-Lago, signaling potential alignment between tech giants and the incoming administration.

The euro remained stable against the dollar, trading at 1.04713 at 4:26 am ET, reflecting a balanced foreign exchange market.