Microsoft and Meta Platforms reported strong second-quarter earnings that exceeded market expectations, leading to notable gains in their stock prices. Following the earnings release, Microsoft shares surged approximately 9%, while Meta's stock increased by about 12%. This positive performance contributed to a rise in U.S. equity futures, with Nasdaq futures approaching an all-time high and S&P 500 futures climbing 0.8%. Market activity in early August showed technology stocks, including Microsoft, Apple, Nvidia, Broadcom, Google, and Meta, leading gains. Meta's stock experienced a rebound from a recent dip, with significant options activity noted, including a high volume of put and call contracts and large purchases of March 2026 calls. Investors are closely watching Meta's price levels around $765 to $773 as potential entry points and resistance areas following the earnings-driven gap.