11:43 GMT24 September 2020
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    Facebook and Microsoft stocks rallied on Wednesday after both tech-giants released earnings reports with revenue projections that were even better than they had expected.

    US stock futures rose slightly in the overnight session on Wednesday despite tech companies posting better than expected earnings, CNBC News reported

    Futures contracts tied to the Dow Jones Industrial Average rose 20 points, implying a gain of 59 points on Thursday morning. The S&P 500 and Nasdaq-100 futures also pointed to small gains in opening trade.

    Facebook went up over 10 percent in overnight trading on the news that the company made significant revenues on advertising in March while COVID-19 quarantine measures remained in place. Facebook's per-share earnings were $1.71 and revenues amounted to $17.74 billion in the first quarter of 2020.

    Microsoft rose on Wednesday night, gaining about 2.15 percent after the company said its fiscal third-quarter sales went up 15 percent. Microsoft added it was marginally affected by the new coronavirus pandemic in March, but warned that the virus could have long-term effects.

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