Tech Gains Propel U.S. Stocks Amid Economic Uncertainty

U.S. stock futures climbed after strong Amazon earnings, counteracting a tech selloff, as investors await nonfarm payrolls data for Fed guidance. Amazon's retail success boosted morale despite tech losses, while labor data and political factors add uncertainty. Treasury yields pressure equities as volatile markets anticipate upcoming Fed and election events.

U.S. stock index futures advanced Friday, driven by positive earnings from Amazon which mitigated a prior tech-led selloff. The market's focus turns to crucial nonfarm payrolls data, offering potential insights into the Federal Reserve's interest-rate strategy.

Amazon surged 5.8% in premarket trading, with strong retail sales pushing its profits beyond Wall Street predictions, restoring market confidence shaken by tech sector downturns from Meta and Microsoft. Nonfarm payrolls are anticipated, though disruptions from labor strikes and hurricanes could sway figures.

Market volatility persists amid expectations of a Federal Reserve rate cut in November, yet uncertainties loom, particularly with the upcoming U.S. presidential election influencing investor sentiment. Equity volatility has surged, underscored by the CBOE Volatility Index's recent peak.

(With inputs from agencies.)