The New York Stock Exchange sign in New York (Boursorama)
The New York Stock Exchange opened higher on Thursday, with strong results from technology companies boosting market sentiment amid growing concerns about the situation in the Middle East.
In early trading, the Dow Jones index gained 247.12 points, or 0.51%, to 49,108.93 points, and the broader Standard & Poor’s 500 rose by 0.43% to 7,166.59 points.
The Nasdaq Composite increased by 0.61%, or 149.53 points, to 24,822.77 points.
Technology giants’ results were well received, overshadowing fears about the Middle East, which had pushed oil prices to their highest level in over four years earlier in the day.
Alphabet, Google’s parent company, rose over 6% in early trading after a record quarter for its “cloud” division, while Amazon gained 2% after surpassing sales forecasts in the same area.
Meta, which revised its investment spending forecast for 2026 upwards, saw a decline (-7.8%), while Microsoft lost over 3%, as its Azure division did not meet investor expectations.
Geopolitical tensions remain high and could lead to some volatility, especially after Axios reported that President Donald Trump is expected to consider new strikes against Iran on Thursday, dampening investors’ optimism for a diplomatic resolution to the conflict.
The war and its impact on prices, along with the continued blockage of the Strait of Hormuz, have cast a shadow over economic prospects since the conflict began, including Wednesday when the Federal Reserve (Fed) kept rates unchanged while expressing increasing concerns about inflation.
Macroeconomic data released before the market opened on Thursday showed that economic growth accelerated in the United States in the first quarter, a likely temporary trend, while PCE inflation, closely monitored by the central bank, rose in March with the increase in gasoline prices.
Among other stocks, Eli Lilly, which raised its annual profit and sales forecasts, surged by 6%.
* For more updates, click on the source link. (Written by Diana Mandiña)
