Wall Street surged on Thursday, driven by stellar earnings from Microsoft and Meta Platforms. The S&P 500 rose 1%, eyeing an eighth consecutive gain, its longest streak since August. The Dow Jones Industrial Average gained 248 points (0.6%), and the Nasdaq composite climbed 1.8%.Microsoft soared 9% after reporting 13% revenue growth, fueled by its cloud computing and AI sectors. Meta, parent of Facebook and Instagram, jumped 5.3%, with AI-enhanced advertising driving revenue and profit above Wall Street’s expectations. Other firms, including CVS Health and Carrier Global, also posted better-than-expected profits, stabilizing markets after recent volatility.
Microsoft and Meta Propel Wall Street with Strong Earnings
The S&P 500 is now 8.5% below its yearly high, recovering from a near-20% drop. Despite concerns over President Trump’s tariffs and a 0.3% Q1 economic contraction, robust corporate earnings signal resilience. Investors are buoyed by Big Tech’s ability to navigate trade disruptions, with Microsoft and Meta’s AI investments reinforcing optimism. The rally reflects a broader market rebound, though tariff uncertainties and economic slowdown fears linger, testing Wall Street’s momentum in a volatile global trade environment.
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