Market Snapshot: Facebook stock ignites tech sector rally, leading the market higher [MarketWatch]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: MarketWatch
Facebook stock ignites tech sector rally, leading the market higher U.S. stocks jumped on Thursday, with major indexes up 1% as strong results from a number of bellwether stocks, including technology behemoth Facebook, lifted equities in a broad advance. The Dow Jones Industrial Average DJIA, +1.07% rose 260 points, or 1.1%, to 24,350, with 26 of the Dow’s 30 components higher. The S&P 500 SPX, +1.16% added 30 points, or 1.1%, to 2,669. The Nasdaq Composite Index COMP, +1.79% surged 123 points, or 1.7%, to 7,124. The day’s gains were broad based, with nine of the 11 primary sectors higher. Technology was the biggest gainer, up 2.5% on the back of major earnings, while telecommunications sank 3.6%. Traders focused on the latest run of earnings from major tech companies, which managed to instill some confidence in the earnings season. So far this season, more than 80% S&P 500 companies have beaten forecasts, but the better-than-expected results have often failed to lift the com
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