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Stocks rose on Thursday as Wall Street digested recent quarterly results from a slew of megacap tech companies. Investors are coming off a losing session after the Federal Reserve held steady on rates.
The Dow Jones Industrials prospered 92.18 points to 44,805.70
The much-broader index gained 9.26 points to 6,048.57.
The NASDAQ Composite faded into the red 35.13 points to 19,597.20.
Shares of Meta Platforms and Tesla both added 2%, while Microsoft shares dipped 6% after the companies reported earnings. Meta beat on top and bottom lines, but Microsoft shares faltered after the company’s quarterly revenue forecast disappointed. Tesla shrugged off an earnings and revenue miss.Investors were also a bit cautious to buy after fourth-quarter GDP growth came in at just 2.3%, missing expectations.
Other “Magnificent Seven” names are set to report in the coming days, with Apple’s results being due for a Thursday release. Amazon will soon follow suit, as the megacap tech company reports next week.
Prices for the 10-year Treasury vaulted, lowering yields to 4.52% from Wednesday’s 4.55%. Treasury prices and yields move in opposite directions.
Oil prices gained 20 cents to $72.82 U.S. a barrel.
Prices for gold brightened $45.70 an ounce to $2,839.20 U.S.
