MARKET SNAPSHOT: Tech Stocks Poised To Drive Another Record Day On Wall Street, Led By Facebook

Twitter, Procter & Gamble, Mastercard earnings reports ahead

Technology names looked set to lead the way higher for U.S. stocks on Thursday, with Nasdaq-100 futures posting strong gains as Facebook Inc. shares soared after upbeat results.

An update on durable goods orders will vie for attention with another influx of earnings, with Twitter Inc. and Dow Chemical Co. among those due ahead of the bell.

Futures indicated U.S. stock markets are likely to hold at the record levels reached in the prior session. Dow Jones Industrial Average futures rose 31 points, or 0.1%, to 21,676, while S&P 500 futures gained 3.95 points, or 0.1%, to 2,477.25. Nasdaq-100 futures jumped 29 points, or 0.5%, to 5,976.75.

All three U.S. benchmarks closed at record highs on Wednesday (, inspired by upbeat corporate results. The DJIA jumped 0.5% to end at 21,711.01, the S&P 500 added just 0.7 point to 2,477.83, and the Nasdaq Composite put on 0.2% to 6,422.75.

Facebook's strong showing was likely behind the tech gains building Thursday, said Craig Erlam, senior market analyst at Oanda, in emailed comments.

"Tech stocks are having to live up to lofty expectations, given the gains they've experienced this year -- particularly in the bigger names -- and the levels of growth we're seeing are doing just that," he said.

Read:Next stop for Facebook shares? $200, say analysts applauding results (

Erlam believes investors are looking for something to fill the gap left by U.S. President Donald Trump's inability to deliver on tax-cut and spending promises.

"As it stands, earnings season isn't disappointing, which is why we haven't seen the correction in stocks that we've seen elsewhere this year," he said.

Earnings ahead: More techs will report, with Twitter, Inc.(TWTR) up 3.5% in premarket trading before putting out its results before the bell (earnings preview here ( will report ( after the close.

Also reporting before the open are Southwest Airlines Co.(LUV) , Dow Chemical Co.(DOW) , Procter & Gamble Co.(PG) , United Parcel Service Inc.(UPS) and MasterCard Inc.(MA) , among others.

After market close, Inc.(AMZN) is expected to report its quarterly results. Expedia Inc. (EXPE) Intel Corp.(INTC) , Starbucks Corp.(SBUX) and Mattel Inc.(MAT) will also report late.

Stocks to watch: Shares in Facebook(FB) were up 3.7% in premarket trading after the company beat quarterly earnings expectations ( The social-networking giant could be nearing a $500 billion market cap ( if shares rise as strongly during regular trading Thursday.

Read:Facebook keeps warning about growth, but growth doesn't stop (

PayPal Holdings Inc.(PYPL) shares added 2.7% after the mobile payment group topped earnings views and raised guidance (

Overseas companies with U.S.-listed shares were also active. AstraZeneca PLC(AZN.LN) (AZN.LN) sank 15% in premarket, matching a London move, after the drug heavyweight reported a negative result in a Phase 3 clinical trial of its lung-cancer treatment Mystic (

Anheuser-Busch InBev NV(ABI.BT) (ABI.BT) moved 5.3% higher after the brewing giant posted a surge in quarterly profit (

( the world's largest liquor maker Diageo PLC(DEO) soared more than 6% in premarket trading after lifting its target for profit margin growth (

Economic data: The latest update on weekly jobless claims is scheduled for release at 8:30 a.m. Eastern Time. On the docket for the same time are June readings on advance trade in goods, durable goods orders and the Chicago Fed national activity index.

Data on housing vacancies for the second quarter are due at 10 a.m. Eastern.

Other markets: European stocks traded mixed ( as investors absorbed a heavy stream of earnings, while in Asia , equity markets were broadly positive (

Gold prices were trading higher, up $13.30, or 1%, to $1,262.60 an ounce, with precious and base metals rising across the board.

The ICE Dollar Index continued to push lower, last trading at 93.51, from 94.05 late Wednesday. The dollar weakened on Wednesday, after some analysts viewed the Federal Reserve as striking a dovish tone in its policy statement (

(END) Dow Jones Newswires

July 27, 2017 06:36 ET (10:36 GMT)