Stock futures moved sharply higher Thursday morning as investors reacted to strong results and big AI spending plans from major technology companies.

The S&P 500 and Dow Jones Industrial Average added another win to their respective piles Thursday. Tech stocks rallied the most thanks to a round of well-received earnings, which helped the Nasdaq Composite outperform. At the close, the S&P 500 was up 0.6% at 5,604 and the Dow was 0.2% higher at 40,752 – their eighth straight day of gains.

The Dow and S&P 500 closed higher for a fifth straight session amid optimism that trade deals are in the offing. The Nasdaq Composite slipped 0.1%.