United States stocks climbed on Thursday (Friday AEDT) in a turbulent trading session as investors assessed earnings reports from major tech companies and economic data.
The Dow Jones Industrial Average gained 168.6 points, or 0.4%, closing at 44,882.1, the S&P 500 advanced 0.5% to 6,071.2, while the Nasdaq Composite edged up 0.6% to 19,681.8.
Markets pared gains late in the session as President Donald Trump reiterated plans to impose 25% tariffs on imports from Canada and Mexico.
Investors also digested quarterly earnings from key technology firms. Meta Platforms and Tesla rose 1.6% and 2.9%, respectively, after their results, while Microsoft fell 6.2% after issuing a disappointing revenue forecast.
Meta exceeded expectations on both revenue and profit, while Tesla shares gained despite missing estimates.
Among data releases, fourth-quarter GDP growth came in at 2.3%, missing forecasts of 2.5%.
Wall Street also reacted to the Federal Reserve’s decision to keep interest rates unchanged at 4.25% - 4.5%. Policymakers noted that inflation remains "somewhat elevated", leading to uncertainty over the timing of future rate cuts.
Looking ahead, more earnings from the "Magnificent Seven" tech stocks are expected, with Apple set to release results later Thursday, followed by Amazon next week. Investors are also awaiting Friday’s personal consumption expenditures price index report for further insights on inflation.
On the bond markets, 10-year and 2-year yields were at 4.528% and 4.213%, respectively.
