Big Tech Earnings Fuel Market Optimism and Index Gains
Major players Microsoft (MSFT) and Meta Platforms (META) drove market gains today, reigniting enthusiasm around artificial intelligence (AI). Both companies exceeded earnings expectations, contributing to a rise in shares of other tech firms, including Nvidia (NVDA). As a result, all three major U.S. indexes recorded solid gains during the session. The Dow and S&P 500 extended their winning streaks to eight consecutive days, while stocks appear poised for weekly gains as they recover from April’s significant losses.
Continue reading for more on today’s market, including:
5 Things to Know Today
- According to President Trump, individuals or countries engaging in oil trades with Iran will face restrictions in doing business with the U.S. (CNBC)
- Following recent controversies, former U.S. national security advisor Mike Waltz is being appointed as the next U.S. ambassador to the UN. (Bloomberg)
- A recent court ruling has negatively impacted Apple’s stock.
- Exploring ways to find the best options trading broker.
- eBay’s earnings report is creating a buzz among options traders.
Oil Prices Rise Amid Technological Gains
Tech earnings have provided a lift to crude prices, helping oil recover from recent losses. For the session, June-dated West Texas Intermediate (WTI) oil rose by 33 cents or 0.54%, closing at $61.39 per barrel.
In contrast, uncertainties in trade are impacting precious metals. Today, gold futures dropped to their lowest point in two weeks, with June contracts falling by 2.9% to around $3,222.20 per ounce.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
