Stock market thrills as Microsoft and Meta deliver earnings reports that relieve investor concerns on Wall Street.
Stocks in the U.S. rose on a Thursday, with the Nasdaq taking the lead, as robust earnings from Microsoft and Meta provided some reassurance to investors who fretted over the economic implications of President Trump's feud with China.
The Nasdaq Composite index ended slightly short of its highs, yet still managed a climb of 1.52%, thanks to a significant 7.6% surge in Microsoft shares and a 4.2% increase in Meta.
Both tech giants dazzled with quarterly earnings past the midnight hour on Wednesday, alleviating fears that tariffs and global uncertainty could impede Big Tech's profits from AI, cloud, and advertising.
The S&P 500 relinquished much of its gains but still inched upward by 0.63%, while the Dow Jones Industrial Average added 0.21%, recording its longest winning streak of the year. Market sentiment remained positive despite indications of slowing growth.
Weekly jobless claims climbed to a two-month high, and U.S. GDP decreased in Q1, elevating anticipation for a weaker labor market prior to Friday's employment report.
Market's Eyes Turn to Apple and Amazon ## Investors Gaze at the Giants
Investors are now zeroing in on earnings from Apple and Amazon, due after the bell. Both powerhouses confront headwinds from the White House's trade policies.
Amazon affirmed it would not transfer tariff costs to consumers, whereas Apple is working hard to migrate iPhone manufacturing beyond China.
Meanwhile, McDonald's admitted to weaker consumer demand and tariff-related pressure, which contributed to its Q1 miss. U.S. sales slipped, and shares plummeted 2%.
On the geopolitical spectrum, Beijing hinted that Washington might be aiming to revive trade negotiations, although the Trump administration argues that China needs to take the first step.
A new round of trade deals could be on the horizon, according to White House sources.
Enso Seals Partnership with Stargate and LayerZero: $3.5b Stampede to Unichain
Enso's recent pact with Stargate and LayerZero is set to bring a massive $3.5 billion surge in liquidity to Unichain.
- The tech giants, Microsoft and Meta, dazzled with quarterly earnings, alleviating fears that tariffs and global uncertainty could impede their profits from AI, cloud, and advertising.
- Market sentiment remained positive despite indications of slowing growth and the S&P 500 inched upward by 0.63%.
- Weekly jobless claims climbed to a two-month high, and U.S. GDP decreased in Q1, elevating anticipation for a weaker labor market prior to Friday's employment report.
- Investors are now zeroing in on earnings from Apple and Amazon, due after the bell, as both powerhouses confront headwinds from the White House's trade policies.
- Amazon affirmed it would not transfer tariff costs to consumers, whereas Apple is working hard to migrate iPhone manufacturing beyond China.
- Meanwhile, a new round of trade deals could be on the horizon, according to White House sources.
- Enso's recent pact with Stargate and LayerZero is set to bring a massive $3.5 billion surge in liquidity to Unichain, a likely development in the realm of crypto and finance technology.
