Mega-cap earnings set the tone for a mixed premarket as energy profits climb

US stock futures tick higher before Friday’s open as Amazon tops revenue estimates with booming AWS growth and Apple cautions on near-term guidance despite iPhone strength; Microsoft surges after a big day, while ExxonMobil and Chevron report robust Q2 profits thanks to elevated crude prices. A high-profile AI-focused hedge fund, Situational Awareness, is unwinding, and Trump’s push for tariffs on Iran adds a geopolitical twist to sanctions talks. The IPO market remains selective, with Reformation essentially flat on its debut and Jersey Mike’s opening below its offer price as more founders stay private.