Wall Street futures rose with gains from tech giants like Meta and Tesla after the Federal Reserve paused its rate-cutting cycle. Meta and Tesla's positive reports contrasted with Microsoft's disappointing cloud forecast.
Meta Platforms (META) stock is 1.9% higher premarket after strong Q4 earnings and a lawsuit settlement with Donald Trump
The Federal Reserve is widely expected to hold its benchmark interest rate steady Wednesday, taking a pause after cutting short-term rates [by a full percentage point](
US stock indices advanced on Thursday, led by post-earnings gains in Meta Platforms and Tesla. At 10:01 am ET, the Dow Jones Industrial Average rose 102.06 points, or 0.23 per cent, to 44,815.58, the S&P 500 gained 28.
Trump's plan for widespread buyouts raises plenty of questions.
The Fed is widely expected to make no change to interest rates today, after cutting the benchmark short-term rate at every one of its last three meetings. There also won't be any quarterly economic or interest-rate projections.
In extended trading, shares of Meta Platforms and Tesla gained nearly 2% and 5%, respectively, while Microsoft shares dipped 4% after the companies reported earnings. Both Meta and Microsoft beat on the top and bottom lines, but Tesla missed expectations.
Meta and Tesla rise as Microsoft slumps, keeping US indices mixed. Investors await Apple and Amazon earnings while GDP and Fed policy weigh on sentiment.
Meta Platforms, Tesla and most other U.S. stocks are rising Thursday following a rush of profit reports from some of the country’s most influential companies.
Stocks are ticking higher on Wall Street following a rush of profit reports from some of the country’s most influential companies. The S&P 500 rose 0.3% in early Thursday trading.
Meta and Tesla shares rally. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.