Wall Street Rally: Major Indexes Climb Amid Mixed Earnings
On Thursday, major U.S. stock indexes rose with positive earnings reports boosting investor confidence. Tesla's positive announcements countered Microsoft's disappointing forecast, aiding the S&P 500's rise. Meta and IBM shares saw gains, while Microsoft fell. Meanwhile, investors stayed cautious due to Federal Reserve policies and inflation concerns.
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Major U.S. stock indexes made gains on Thursday, bolstered by notable earnings reports that fueled investor optimism. Tesla's CEO Elon Musk announced plans for cheaper models and testing an autonomous ride-hailing service, counterbalancing a less-than-expected quarterly result and lifting the S&P 500 despite a downturn in the technology sector.
Meta's shares rose following revenue surpassing estimates, though cautions on future sales were noted. IBM showed strong gains, while Microsoft's shares dipped due to a gloomy cloud business outlook. Both Meta and Microsoft's CEOs justified substantial AI investments, amid competitive challenges from Chinese startup DeepSeek, impacting AI-linked stocks.
The market closed with the Dow Jones, S&P 500, and Nasdaq all up, as the Federal Reserve maintained its interest rates policy without acknowledging inflation easing. Despite negative forecasts from United Parcel Service affecting the Dow Jones Transportation Average, most S&P 500 firms topped Q4 expectations.
(With inputs from agencies.)
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