Google gives jittery stocks a lift ahead of Federal Reserve meeting

SINGAPORE (Reuters) – Better-than-expected results at Microsoft and Google helped soothe a nervous mood in stock markets on Wednesday, while a cut in Russian gas flow dragged on the euro and a Federal Reserve meeting due later in the day kept bonds and the dollar on edge.

Nasdaq 100 futures bounced 1.4% and S&P 500 futures were up 0.8% in Asia after Microsoft forecast steep revenue growth and Google parent Alphabet posted strong search engine ad sales.

Alphabet shares rose 5% after hours and Microsoft shares rose 4% to cut through some of the gloom cast over Tuesday by a profit warning at retailer Walmart and some soft U.S economic data.