Wall Street today: US stocks advance, Meta Platforms climbs 4.5%, Microsoft drops 4.7% | Stock Market News
Source: Live Mint
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 28.19 points, or 0.47 per cent, to 6,067.50, and the Nasdaq Composite added 74.76 points, or 0.39 per cent, to 19,707.08.
At the opening bell, the Dow Jones Industrial Average fell 164.8 points, or 0.37 per cent, to 44,548.69. The S&P 500 rose 11.4 points, or 0.19 per cent, to 6,050.75, while the Nasdaq Composite rose 65.2 points, or 0.33 per cent, to 19,697.525.
The US Federal Reserve on Wednesday held interest rates steady, with Chair Jerome Powell saying there would be no rush to cut rates again until inflation and job numbers made it appropriate.
Data on Thursday showed US economic growth slowed in the fourth quarter, while a jobless claims report for the previous week showed claims fell more than expected.
Gainers and losers
Microsoft shares dropped 4.7 per cent after forecasting disappointing growth in its cloud computing business.
Meta Platforms stock climbed 4.5 per cent after upbeat fourth quarter revenue. Tesla added 0.5% after the company announced to launch cheaper EV models in the first half of 2025.
Health insurer Cigna shares shed 9.7 per cent after it forecast annual profit below Wall Street expectations and missed fourth quarter estimates.
Chip-related stocks Lam Research rose 5.2 per cent, Broadcom jumped 5.8 per cent, and Marvell Technology gained 3.8 per cent.
IBM stock soared 12.9 per cent after the company beat fourth quarter profit expectations.
In the bond market, the 10-year Treasury yield edged down to 4.52% from 4.53% late on Wednesday.
Crude oil
Oil prices were steady on Thursday as investors focused on tariffs threatened by US President Donald Trump on Mexico and Canada.
Brent crude futures were down 10 cents at $76.48 a barrel at 1318 GMT. US crude futures were down 16 cents to $72.46.
Bullion
Gold prices surged 1 per cent on Thursday on safe-haven demand due to US tariff threats.
Spot gold was up 1 per cent at $2,783.95 per ounce, as of 09:41 am (1441 GMT). US gold futures climbed 1.4 per cent to $2,808.
Spot silver was up 2 per cent at $31.46 per ounce.
