According to The Kobeissi Letter, the S&P 500 rallied over 150 points from its intraday low on April 30, 2025, with S&P 500 futures jumping 75 points between 3:30 PM and 4:00 PM ET despite no major news at the time. Five minutes after the rally, Meta ($META) and Microsoft ($MSFT) reported significant earnings beats, suggesting that institutional traders may have anticipated positive results ahead of the official announcements (Source: @KobeissiLetter on Twitter). This trading action indicates heightened sensitivity to tech earnings and potential for algorithm-driven moves in equity futures. Traders should monitor after-hours volatility and consider the outsized impact of mega-cap tech earnings on index futures.