By Stella Qiu

SYDNEY (Reuters) -Asian shares are set for a seventh straight month of gains on Friday, after upbeat earnings from Amazon and Apple buoyed Wall Street futures and the dollar hovered near three-month highs on uncertainty over further Federal Reserve rate cuts.

Nasdaq futures jumped 1.2% and S&P 500 futures gained 0.6% as Amazon’s stellar earnings sent its shares up a staggering 13% after the bell, which added over $300 billion to its market value. Apple also rose 2.3% after its outlook on iPhone sales topped estimates.

That offset the drag from Meta and Microsoft overnight amid worries over their surging AI spending. Six of the “Magnificent Seven” U.S. tech megacaps have now reported and the results have been mixed. Nvidia, the world’s first $5 trillion company, is due to r

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