Microsoft Cloud Growth Sends Futures Higher
*Microsoft shares jumped 9.8 percent after posting its fastest cloud growth in four years, lifting futures and semiconductor stocks.*
US futures rose on Thursday. Microsoft reported the strongest increase in its cloud unit in four years. The gain came alongside rallies in shares of Micron Technology and Nvidia.
The move in Microsoft followed the earnings release. Futures markets reflected the positive reaction across major indices. Semiconductor names moved in tandem with the cloud provider.
No other details on specific revenue figures or segment breakdowns were provided in the report.
The result shows continued demand for cloud capacity. Investors priced that demand into chip suppliers that support the same infrastructure. For traders and portfolio managers, the single data point reset near-term expectations for both software and hardware names tied to data-center spending.
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