Nasdaq, S&P 500 Jump; Big Tech Earnings, Trade Deals Lift Spirits
- By The Financial District
- 3 hours ago
- 1 min read
The S&P 500 and tech-heavy Nasdaq surged, setting their sights on new record highs after strong earnings from Meta and Microsoft renewed investor confidence in the payoff from Big Tech’s massive AI bets, Yahoo Finance reporters Amalya Dubrovsky, Karen Friar, and Laura Bratton reported.

Markets are now awaiting after-hours earnings reports from fellow “Magnificent Seven” members Apple and Amazon to sustain the rally. I Photo: Nasdaq Facebook
The Nasdaq climbed roughly 0.8%, while the S&P 500 rose 0.5%, paring earlier gains. The Dow Jones Industrial Average lagged, rising only about 0.1%.
Meta shares jumped 11% by late morning after reporting a solid earnings beat and stronger-than-expected guidance—even as the company ramped up AI spending. Microsoft stock rose as much as 8% following its results, pushing the tech giant’s market capitalization above $4 trillion.
Markets are now awaiting after-hours earnings reports from fellow “Magnificent Seven” members Apple and Amazon to sustain the rally.
Meanwhile, the Federal Reserve’s preferred inflation gauge—the Personal Consumption Expenditures (PCE) index—showed price increases accelerated in June, remaining above the Fed’s 2% inflation target.
The data release came just after the Fed held interest rates steady following its two-day policy meeting, with two governors dissenting.