The Dow led a surge in US stocks on Friday as upbeat earnings from Apple lifted spirits in the wait for the monthly jobs report, a crucial litmus test for interest-rate expectations. Dow Jones Industrial Average futures jumped 0.8%, or 320 points, while S&P 500 futures rose 0.4%. Contracts on the tech-heavy Nasdaq 100 were up roughly 0.7%.
While CEO Tim Cook talked up Apple's plans for AI development — a key focus this earnings season — it was the company's plans for a $110 billion stock buyback, the biggest in US history, that captured the market's attention. Apple shares rose 6% in pre-market trading, set to buoy the Dow. The blue-chip index is also seeing a boost from heavyweight Amgen , whose shares soared 14% as comments by its CEO suggested its obesity drug could take on market leaders from Novo Nordisk .
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