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Stock market today: Nasdaq futures pop, Tesla surges after earnings with more heavyweights on deck

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Quarterly Earnings,Corporate Earnings,Nasdaq

Tesla's surge is putting Big Tech earnings center stage as investors look to megacaps to lift stocks.

Tech stocks popped ahead of the bell on Wednesday, outstripping the broader market as investors welcomed Tesla's cheaper car pledge and waited for the next rush of corporate earnings. Futures on the tech-heavy Nasdaq 100 rose roughly 0.5%, coming off a sharp closing gain. S&P 500 futures were up 0.1%, continuing a rebound from its longest losing streak of 2024, while Dow Jones Industrial Average futures wobbled along the flatline.

That cheered up investors worried about growth amid a strategy shift to robotaxis and the planned cancellation of a cheaper model. The results from the first "Magnificent Seven" to report have intensified the already high hopes for Big Tech earnings, that the megacaps can revive the rally in stocks they powered. The spotlight is now on Meta's report due after the market close, as the Facebook owner's shares rose after the Senate voted for a potential ban on rival TikTok.

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