At the end of the previous trading session, US stock indices closed mixed. The S&P 500 slipped by 0.12%, while the Nasdaq 100 gained 0.15%. The industrial Dow Jones declined by 0.38%.

However, today, futures on European and US indices have resumed growth, as strong earnings reports from high-cap tech companies boosted optimism regarding sustained corporate profitability. The US dollar strengthened after the Federal Reserve left its benchmark interest rate unchanged.

S&P 500 futures rose by 0.9%, and Nasdaq 100 futures climbed by 1.3%, following sharp gains in Microsoft Corp. and Meta Platforms Inc. shares. Apple Inc. and Amazon.com Inc. are scheduled to report later today. European contracts advanced, while Asian equities slipped by 0.2%. Japanese stocks rose by 1%, and the yen appreciated against the dollar as the Bank of Japan kept interest rates steady.

The surge in tech giants such as Microsoft and Meta provided significant support to the stock indices, underscoring investor confidence in their long-term prospects. However, the key event of the day will be the earnings reports from Apple and Amazon.com. As two of the largest and most influential companies globally, their performance sets the tone for the entire tech sector. Expectations are high, and any surprises could lead to substantial market swings. Investors will be watching revenue, earnings, and forward guidance closely. Particular focus will be on how these firms are navigating inflationary pressures and Donald Trump's trade policy. Microsoft shares gained over 8% in after-hours trading, while Meta shares jumped by more than 11%.

Copper prices on the London Metal Exchange were little changed on Thursday—following a sharp drop on the New York Exchange—after US President Donald Trump shook the global metals market by exempting the most in-demand copper types from long-anticipated import tariffs.

The dollar maintained its strength after the US central bank left the key interest rate unchanged yesterday, while simultaneously pledging to continue fighting inflation. While this decision might have been expected to weaken the greenback, the market reacted otherwise. The reaffirmed commitment to combating inflation, even with rates on hold, reinforced confidence in the dollar's long-term stability.

Today's strong labor market and consumer spending data are expected to continue supporting the US economy. This will give the Fed more room to maneuver in tackling inflation without fearing an imminent recession.

As for the technical outlook for the S&P 500, the main objective for buyers today will be to break through the nearest resistance level of $6,428. This will help fuel further upside and open the path to a breakout toward the $6,441 level. An equally important target for bulls will be to regain control of the $6,457 mark, which would strengthen their position. If the market turns lower amid waning risk appetite, buyers must make a stand around $6,414. A break below this level could quickly push the trading instrument down to $6,400 and open the door to $6,392.