07:18 AM EDT, 04/26/2024 (MT Newswires) -- US equity futures rebounded robustly before Friday's opening bell after technology giants Microsoft (MSFT) and Alphabet (GOOG, GOOGL) reported better-than-expected quarterly results, while traders look ahead to the March personal income and outlays report.

The S&P 500 futures gained 0.7%, the Dow Jones Industrial Average rose 0.2% and the Nasdaq added 1% in the premarket. Asian and European exchanges were trending upwards.

Google parent Alphabet's shares jumped 11% pre-bell as it launched its first-ever quarterly cash dividend and a $70 billion stock repurchase program. Microsoft climbed 4.1% as a double-digit gain in its cloud business helped boost overall fiscal third-quarter revenue. Intel's (INTC) stock dropped 7.1% as the chipmaker issued a downbeat fiscal second-quarter outlook.

Oil giants Exxon Mobil (XOM) and Chevron (CVX) are slated to post their latest financial results early Friday, alongside AbbVie (ABBV), HCA Healthcare (HCA), Colgate-Palmolive (CL), Phillips 66 (PSX), Aon (AON), Roper Technologies (ROP), Centene (CNC), Charter Communications (CHTR) and Newell Brands (NWL).

The income report is scheduled for an 8:30 am ET release and includes the personal consumption expenditure core price index, which is the Federal Reserve's preferred inflation metric. Also on Friday's economic calendar, the final University of Michigan consumer sentiment report for April is out at 10 am, while the weekly Baker Hughes domestic oil-and-gas rig count is due at 1 pm.

Before the open, bitcoin dipped 0.5% to $64,326, West Texas Intermediate crude oil increased 0.4% to $83.9 a barrel, yields on 10-year US Treasuries declined 1.4 basis points to 4.69% and gold moved 0.7% higher to $2,360 an ounce.