FX.co ★ Wall Street Extends Possitive Momentum

Wall Street continued its upward trajectory on Thursday afternoon, with notable advances across major indices. The Dow Jones Industrial Average surged by over 250 points, the S&P 500 increased by more than 1.2%, and the Nasdaq Composite rose by over 1.8%, buoyed by robust earnings reports from major technology firms. Microsoft shares climbed over 8% after the company exceeded earnings expectations and raised its guidance for Azure, calming investor concerns about growth driven by artificial intelligence. Simultaneously, Meta saw its stock rise by more than 5% following a stronger-than-anticipated revenue report for the first quarter. Nvidia, a leading player in the chip industry, gained approximately 4% amid renewed investor enthusiasm for its data-center strategy. In contrast, Eli Lilly's shares fell by 10% in the wake of its quarterly earnings report, while McDonald's saw a 2% dip prompted by a decline in first-quarter sales. On the international trade front, President Trump indicated potential trade agreements with India, Japan, and South Korea, and expressed a positive outlook regarding negotiations with China. In economic data, initial jobless claims reached a nine-week peak, while continuing claims climbed to their highest level since 2021. Additionally, U.S. manufacturing contracted once again in April, hampered by the ongoing impact of tariffs.