Amazon shares jumped 13% in Friday's trade, leading a broad rebound in technology stocks after the e-commerce giant reported better-than-expected quarterly earnings.
The rally extended gains from the previous session, where the Nasdaq-100 had already climbed 3.36% on the back of upbeat results from major tech firms.
While the Nasdaq-100 is on track for a 7% decline in July, the late-month surge in tech earnings has provided a crucial counterweight to earlier selling pressure.
Nasdaq-100 futures advanced 1.2% ahead of the open, signaling sustained investor appetite for the sector despite a challenging month.
The sharp move in Amazon stock helped lift broader market sentiment, with S&P 500 futures also pointing higher.
While the Nasdaq-100 is on track for a 7% decline in July, the late-month surge in tech earnings has provided a crucial counterweight to earlier selling pressure.
Investors appear to be rotating back into growth names as corporate fundamentals prove resilient.