5 things to know before the stock market opens on Thursday

Here are the most important news, trends and analysis investors need to start their trading day:

nasdaq futures bounced almost 2% on Thursday, fueled by a 14% rise in shares of Facebook’s parent company Metaplatforms in better-than-expected earnings. Bond yields rose as data showed US economic growth slowed in the first quarter. After the bell on Thursday, megatech continues to lead corporate America with quarterly results like Apple Y Amazon they are programmed to report.

• The tech index, already in a bear market, closed Wednesday at an all-time high. low for the yeara day after its worst single-session sell-off since September 2020.
• The Dow Jones Industrial Average and the S&P 500 Both were set to open higher on Thursday after ending the previous session with modest gains. The S&P 500 was still in a correction.
• The Dow was just below the threshold for a correction of 10% or more from recent highs.

A couple of pre-market engines: teladoc tanked 44% after reporting a lack of earnings; Southwest Airlines rose more than 4% after offering an optimistic outlook; Y Ford rose 1.5% after slightly beating expectations with earnings and revenue.

benchmark 10-year Treasury yield pink Thursday, trading around 2.88%after the government reported that the US economy contracted 1.4% in the first trimester. Economists expected growth of 1%. Initial jobless claims for the week ending April 23 were 180,000, matching estimates. The Federal Reserve will pay close attention to the reports as it seeks a sweet spot to raise interest rates further to fight inflation without closing the door on economic growth.

Metaplatformspreviously called Facebook, reported mixed first quarter results after the closing bell on Wednesday. However, while no revenue was made, key engagement metrics came out better than expected, as did earnings. During the call, management provided very encouraging comments on expenses, monetization, and long-term earnings potential. They said they also expect revenue growth to pick up again over time. Even though it shot up to around $199 a share in premarket, that level would keep Meta Platforms down more than 40% for the year.

Twitter issued first quarter results before the opening bell on Thursday, in what could be one of its last reports as a public company after the social network’s board agreed to sell to Elon Musk for $44 billion. Twitter shares rose 1% to about $49 apiece in the premarket period, but that’s short of Musk’s $54.20-a-share all-cash offer. Twitter said monetizable daily active users beat estimates in the first quarter, but overall revenue was slightly below expectations.

• mcdonald’s was set to open 2% higher after delivery better than expected incomedriven by price increases in the US and strong international sales growth.
• Caterpillar it was scheduled to open 2% lower despite earnings and revenue, helped by increased construction activity and rising commodity prices leading to more mining.
• Merck was set to open about 2% after beating on the top and bottom linesforcibly aided in his cancer treatment Keytruda, his HPV vaccine Gardasil, and his Covid oral antiviral Molnupiravir.

Eli Lilly shares rose 4% in premarket Thursday, shortly after releasing promising data from a 72-week trial of its anti-obesity drug tirzepatide. The participants lost up to 22.5% of their body weight, or about 52 pounds. Sixty-three percent of participants taking tirzepatide achieved at least a 20% reduction in body weight. Also before the bell Thursday, Lilly reported better-than-expected quarterly earnings and revenue. The drugmaker lowered full-year earnings guidance but raised its revenue outlook.

-CNBC samantha subin, hannah miao, sarah min, Jeff Cox, Zev Fima, lauren feiner Y sun chu contributed to this report.

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