The New York Stock Exchange opened higher on Thursday, with technology company results boosting market sentiment amid growing concerns about the situation in the Middle East.
In early trading, the Dow Jones index .DJI is up 247.12 points, or 0.51% at 49,108.93 points, and the broader Standard & Poor’s 500 .SPX is up 0.43% at 7,166.59 points.
The Nasdaq Composite .IXIC is up 0.61%, or 149.53 points, at 24,822.77 points.
Technology giants’ results were well received, overshadowing fears about the Middle East, which have pushed oil prices to their highest level in over four years earlier in the day.
Alphabet GOOGL.O, Google’s parent company, is up more than 6% in early trading after a record quarter for its “cloud” division, while Amazon AMZN.O is up 2% after surpassing sales forecasts in the same area.
Meta META.O, which has raised its investment spending forecast for 2026, is in contrast down (-7.8%), Microsoft MSFT.O is down more than 3%, as its Azure division did not meet investor expectations.
The geopolitical situation remains tense 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, as the Strait of Hormuz remains blocked, have cast a lingering 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 on Thursday before the market opened show that economic growth accelerated in the United States in the first quarter, likely a temporary trend, while PCE inflation, closely monitored by the central bank, rose in March along with gasoline prices.
Among other stocks, Eli Lilly LLY.N, which raised its annual profit and sales forecasts, is up 6%.
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(Written by Diana Mandi¡)
