5 things to know before the stock market opens

Stock futures are rising, with technology stocks leading the way after strong earnings reports from tech giants Apple and Amazon. Amazon set to open at record high after reporting cloud growth accelerated last quarter; Apple beat quarterly estimates and forecast record revenue in holiday quarter; Reddit stock is jumping on strong earnings and solid outlook. Netflix stock is rising after the streaming giant announced its first stock split in a decade. Here’s what you need to know.

1. Stock futures point to rebound from Thursday’s decline

Stock futures rose this morning as technology stocks rose following strong quarterly reports from Apple (AAPL) and Amazon (AMZN). Major indexes fell on Thursday as investors digested a disappointing earnings report from social media giant META and the announcement of a trade truce between the United States and China. It was the second down day for the Dow Jones and S&P 500, which fell on Wednesday after Federal Reserve Chairman Jerome Powell warned that a December rate cut was “not a foregone conclusion.” Futures tied to the Dow Jones Industrial Average rose 0.2%, while S&P 500 futures rose 0.8% and the tech-heavy Nasdaq 100 futures rose 1.3%. The yield on 10-year Treasury notes is hovering at 4.11%, up slightly from 4.1% at yesterday’s close and also a three-week high. Bitcoin is trading at around $109,500, up from yesterday’s low of around $106,400. Gold futures were little changed at $4,015 an ounce, while West Texas Intermediate crude futures fell 0.4% to $60.30 a barrel.

2. Amazon shares rise on strong cloud-driven earnings

Shares of Amazon ( AMZN ) rose more than 12% in premarket trading on Friday after the company reported strong third-quarter results driven by resilience in its core e-commerce business and growth in its cloud business. Revenue at Amazon Web Services, its cloud computing unit, jumped 20% year over year to $33 billion, accelerating from 17.5% in the previous quarter. The company also raised its full-year capital expenditure forecast to about $125 billion from $118 billion, a sign that it continues to invest aggressively in building out its capacity to host AI workloads. The results put Amazon stock, which has lagged the Magnificent Seven index so far this year, on track to open at its first record high since early February.

3. Apple expects quarterly holiday sales, stock rises

Apple (AAPL) is also on track to open at a new record high after the iPhone maker beat estimates and forecast a strong holiday season in its fiscal fourth-quarter earnings report Thursday afternoon. Apple reported earnings of $1.85 per share on revenue that increased 8% to $102.47 billion. Apple’s high-margin services revenue rose to a record $28.75 billion. CEO Tim Cook said he expects a strong holiday season to produce a record quarter for both Apple and its flagship iPhone, with overall revenue growth expected to accelerate to between 10% and 12%. Apple shares rose more than 2% in early trading.

4. Reddit stock jumps on upbeat earnings and outlook

Shares of social media platform Reddit ( RDDT ) rose more than 11% in premarket trading after it beat Wall Street expectations with its third-quarter report and issued strong guidance. Revenue grew 68% to $585 million, driven by advertising revenue, which rose 74%. Net income more than quintupled to $163 million, or 80 cents per share, beating analysts’ estimates. Revenue and profit forecasts for the current quarter also beat expectations, helping ease some concerns that AI-powered search features rolled out by Google, a major source of Reddit traffic, will hurt user growth.

5. Netflix announces a 10-for-1 stock split

Netflix (NFLX) on Thursday announced a 10-for-1 stock split, its first in a decade. Starting November 10, Netflix shareholders will receive nine additional stock units for every share they own. They will receive these shares on November 14, and the stock will begin trading on a split basis on November 17. Shares of the streaming giant closed at $1,089 on Thursday, making it the ninth most expensive stock in the S&P 500, and one of only 10 companies in the index with a stock price above $1,000. Netflix last split its stock in July 2015. Shares rose about 2% before the opening bell.