Futures on Wall Street are extending their recovery from Wednesday, surging sharply in the after-market session. The Dow futures are now up 180 points, the S&P 500 futures are up 50, while the Nasdaq futures are up 280 points led by a strong earnings show from both Microsoft and Meta.

April was one of the wildest months in recent memory for markets, capped off by a key data release that showed the economy shrank last quarter for the first time in years.

U.S. stocks stumbled on Wednesday after data showed the economy contracted in the first quarter for the first time in three years, underscoring concerns about the impact of U.S. tariffs and the global trade war on worldwide growth.

U.S. stock futures pointed sharply down on Wednesday as new data showed the economy contracted for the first time since 2022 and investors braced for a deluge of earnings.