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Barchart
Rich Asplund

Stocks Rally as Strong Tech Earnings Boost Market Sentiment

Nasdaq SP United States Dow Jones Meta Microsoft

The S&P 500 Index ($SPX) (SPY) Thursday closed up +0.63%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.10%.  June E-mini S&P futures (ESM25) are up +0.64%, and June E-mini Nasdaq futures (NQM25) are up +0.99%. 

Stock indexes settle moderately higher on Thursday, with the S&P 500 and Dow Jones Industrials posting 4-week highs and the Nasdaq 100 posting a 5-week high.  Positive earnings results from Microsoft and Meta Platforms boosted the Magnificent Seven stocks and the overall market on Thursday.  Microsoft rose more than +7% after reporting stronger-than-expected Q3 sales and profit growth.  Meta Platforms rose more than +4% after reporting better-than-expected Q1 sales. Stocks extended their gains Thursday after US manufacturing activity fell less than expected last month.  The markets are waiting for earnings results from Amazon.com and Apple after Thursday’s close.

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