Wall Street today: Nasdaq climbs 2%, S&P 500 gains 1% on strong results from Meta Platforms, Microsoft
Published on 01/05/2025 07:26 PM
US stock indices jumped on Thursday, lifted by shares of tech giants Meta Platforms and Microsoft after their strong first quarter results.
At the opening bell, the Dow Jones Industrial Average rose 248.7 points, or 0.61%, to 40,918.04. The S&P 500 rose 56.1 points, or 1.01%, to 5,625.14, while the Nasdaq Composite rose 346.8 points, or 1.99%, to 17,793.136.
Shares of Microsoft soared nearly 10% while Facebook parent Meta Platforms surged 5.1% after both the companies reported strong quarterly results on Wednesday.
On Wednesday, the US stocks initially tumbled after a weak GDP data for the first quarter fueled recession worries, but later rebounded following solid US consumer spending data and benign inflation.
Markets are looking ahead to Friday's labor report data for April, the first major economic report to include the period after Trump's sweeping April 2 tariff announcement that has been partly reversed.
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