• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Stocks rally after Meta earnings add to tech strength: Stock market news today
Finance

Stocks rally after Meta earnings add to tech strength: Stock market news today

April 27, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Stocks rallied on Thursday afternoon despite the release of cooler-than-expected economic data as earnings results from Meta (META) built on a strong week of tech earnings.

The S&P 500 (^GSPC) was up 1.51%, while the Dow Jones Industrial Average (^DJI) added 392 points, or 1.16%. The technology-heavy Nasdaq Composite (^IXIC) rose 2.15%.

The Bureau of Economic Analysis advance estimate of first quarter U.S. gross domestic product (GDP) showed the U.S. economy grew at 1.1.% annual rate in the first quarter. Economists surveyed by Bloomberg had expected 1.9% growth.

Meta shares soared as much as 15% on the heels of the company’s better-than-expected first-quarter earnings report following Wednesday’s close. Meta topped analyst expectations for revenue and earnings per share while also guiding for second-quarter revenue in a range of $29.5 billion to $32 billion. Analysts had been expecting $29.48 billion in second quarter revenue.

Meta’s results came after Microsoft (MSFT) and Alphabet (GOOGL) topped expectations with reports after the market closed on Tuesday.

Amazon (AMZN) and Intel (INTC) are expected to report earnings after the bell on Thursday.

“The common theme here is that tech is stronger than most people think,” Jefferies analyst Brent Thill told Yahoo Finance Live after Meta’s earnings release. “Yes, we’re fading, but things are a lot better than the bears have been expecting.”

Meanwhile in the financial sector, pressure on First Republic is mounting as the stock plunged 29.75% on Wednesday. The bank is pursuing “strategic options,” it said on Monday, after losing more than $100 billion in deposits during the March banking turmoil. After losing more than half it’s market cap over the last two trading sessions, First Republic stock rallied roughly 11% in intraday trading on Thursday.

See also  China vs India: Economic Outreach to Central Asia 

Southwest Airlines (LUV) shares slumped nearly 4% as the airline reported a wider-than-expected loss in the first quarter due to a one-time charge owed after a cancellation fiasco in December.

Shares of Caterpillar (CAT) dropped 1.4% despite topping Wall Street’s estimates for sales and earnings per share. Crocs (CROX) stock also fell on earnings. Shares slumped more than 20% at one point in the day on weaker than expected second quarter revenue and profit guidance.

Lyft shares rose more than 1% in midday trading as the company confirmed previously reported layoffs. The company is cutting 26% of its workforce.

Investors are also digesting more economic data on Thursday morning. The Core Personal Consumption Expenditures Price Index, which excludes food and energy, rose to 4.9%, 0.2% higher than analysts had been expecting, per Bloomberg. U.S. weekly jobless claims fell from the week prior to 230,000. Economists surveyed by Bloomberg had expected 248,000 claims.

Contracts to buy existing homes in the U.S. declined for the first time since November 2022. The National Association of Realtor’s index of pending home sales declined 5.2% in March. Estimates had been for a gain of 0.8%, according to Bloomberg.

Josh is a reporter for Yahoo Finance.

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025

How China’s Companies Are Responding to the US Trade War

April 16, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

US Woman Sells Her House To Pay For Facelift Surgery, Now Lives In A Van

August 1, 2023

Biden says he’s heading to MTG’s backyard for a groundbreaking

July 6, 2023

Kevin Costner’s Wished To Reconcile With Estranged Wife Christine Before Unleashing Blistering Attack in Divorce

June 29, 2023

Abortion drug battle heads to SCOTUS after appeals court decision

April 15, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

‘Controligarchs’ Reveals Bill Gates’ Hidden Agenda as He Buys Up U.S. Farmland

November 15, 2023

Minnesota Voters Sue To Bar Trump From Ballot

September 14, 2023

Bath & Body Works Apologizes For Offending Customers With Allegedly KKK-Resembling Candle

October 12, 2024
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.