SummarySummary Companies Futures up: Dow 0.10%, S&P 0.43%, Nasdaq 1.25%April 26 (Reuters) - Nasdaq futures rallied more than 1% on Wednesday after upbeat results from Microsoft and Alphabet dwarfed worries about the impact of rising interest rates on the U.S. economy.
Microsoft Corp (MSFT.O) climbed 7.5% after it beat Wall Street estimates for quarterly results, and said that artificial intelligence products were stimulating sales.
Of the 124 S&P 500 companies that reported first-quarter profit through Tuesday, 79% topped analysts' expectations, as per Refinitiv IBES data.
ET, Dow e-minis were up 33 points, or 0.1%, S&P 500 e-minis were up 17.5 points, or 0.43%, and Nasdaq 100 e-minis were up 160.75 points, or 1.25%.
PacWest Bancorp (PACW.O) rallied 17.4% as the regional lender beat estimates for first-quarter profit as it managed to stabilize deposit outflows.