US Stocks Recover to Hover in the Green
US stocks closed higher after a choppy Thursday amid mixed earnings results, while bets on the Fed’s policy outlook remained loosely unchanged following the release of key economic data.
The Nasdaq and the Dow Jones closed 0.5% higher, while the S&P 500 added 0.6%. Meta was 1.6% higher after surpassing earnings expectations and signaling an ambitious investment bet in open-source AI, and Tesla jumped 2.9% after its earnings call despite missing expectations.
In the meantime, Oracle and Broadcom gained 5.2% and 4.5%, respectively, each to extend the rebound from selloffs triggered by news hardware-efficient LLMs earlier in the week.
On the other hand, Microsoft sank more than 6.2% as its revenue forecast disappointed, reflecting some pessimism over the company’s large bet on Azure. Apple edged lower ahead of its results after the bell. On the data front, the US GDP grew by an annualized 2.3% in Q4, falling short of the 2.6% forecast.
Source: Trading Economics
