U.S. Tech Stocks Juggle Earnings and Economic Data Amid Market Fluctuations
U.S. stocks experienced mixed results due to corporate earnings and economic data, with Nasdaq and S&P posting slight gains. Despite strong showings from tech giants like Microsoft and Meta, some semiconductor-related stocks saw losses. Investors are now focused on upcoming economic reports and Trump's tariff policies.
On Thursday, U.S. stocks displayed fluctuating performance, with the Nasdaq and S&P 500 managing to secure modest gains amidst ongoing corporate earnings reports and economic data assessments. Companies like Microsoft and Meta Platforms delivered strong results, contributing to the market's upward push.
Microsoft's robust earnings report briefly propelled it past the $4 trillion market cap, making it the second company after Nvidia to reach this milestone. Meanwhile, Meta surged by 11.9% due to optimistic revenue forecasts driven by AI-enhanced growth in its advertising sector. In contrast, chipmakers such as Broadcom and Nvidia faltered, leading to a decline in the PHLX semiconductor index by over 3%.
Market focus will now shift towards Friday's non-farm payrolls data and imminent tariff decisions by President Donald Trump. The overall market transformation has been impacted by tariffs, with recent economic data revealing rising inflation pressures. The attention on tech earnings and economic indicators underscores prevailing market volatility and investor caution.
(With inputs from agencies.)
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