September S&P 500 E-Mini futures (ESU26) are up +0.48%, and September Nasdaq 100 E-Mini futures (NQU26) are up +1.02% this morning as investors cheered strong growth in Microsoft’s cloud business, signaling that massive investments in AI are beginning to pay off.
Microsoft (MSFT) surged over +8% in pre-market trading after the technology giant reported that revenue in its cloud-computing unit grew at the fastest pace in four years in FQ4, while Chief Financial Officer Amy Hood said she expected growth to accelerate further in the current quarter. Hood also signaled that Microsoft would hold the line on new capital spending this year.
