Wall Street's main indexes rose on Thursday, driven by post-earnings advances in Meta and Tesla, although Microsoft's weak cloud forecast and downbeat results from Cigna dampened investor enthusiasm. Microsoft MSFT.O dropped 4.7% after forecasting disappointing growth in its cloud computing business.
The cloud-computing company has started firing low-performance workers as it tries to keep up with cutthroat rivals in the tech industry.
Tesla stock rises on optimism over the electric-vehicle maker’s growth projections, Microsoft’s Azure growth misses estimates, Meta’s fourth-quarter profit handily tops forecasts, and UPS says it will be reducing volume with Amazon.
A broad stock market rally picked up the pace with an hour to go in Thursday’s session. The Dow was up 271 points, or 0.6%. The S&P 500 was up 0.7%. The Nasdaq Composite was up 0.5%. Though a majority of S&P and Dow stocks have been rising all day,
Microsoft (MSFT), and Meta Platforms (META) reported earnings after Wednesday's closing bell, as investors weigh which Big Tech giant is best positioned for artificial intelligence (AI) gains. Procyon senior private wealth advisor Jerry Sneed sits down with Brad Smith to outline his thoughts on Tesla,
U.S equity futures turned lower in early Wednesday trading, while the dollar extended gains and Treasury yields dipped, as investors looked for clarity on two key issues from today's Federal Reserve interest rate decision and fourth-quarter earnings updates from three megacap tech giants.
Dow Jones stocks edged higher in the stock market today as investors awaited Powell's remarks and earnings from three tech titans.
Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher on Thursday after a rush of profit reports from some of the country's most influential companies.
Furthermore, when taking a market-cap weighted composite of those seven companies, versus the S&P 500's remaining 493 companies, the "Magnificent Seven" shed 0.7% in 2025 through Friday's close, while the rest gained 4.4%, according to a review by Dow Jones Market Data.
The S&P 500 ( ^GSPC) gained 0.5%, while the Dow Jones Industrial Average ( ^DJI) rose nearly 0.4%. The tech-heavy Nasdaq Composite ( ^IXIC) was up nearly 0.3%.
Meta proved that strong results are still rewarded, while Tesla’s ability to shake off weak numbers shows investors believe in its long-term story.