Nasdaq Extends Gains on Big Tech Earnings Surge

U.S. equities climbed higher Thursday as Meta and Microsoft delivered earnings beats, propelling the Nasdaq up 1.3% and the S&P 500 0.9% in early trading. The tech-heavy index found momentum after Meta shares surged 12% premarket on strong AI guidance, while Microsoft gained 9%, nearing a historic $4 trillion valuation.

Investor Optimism persists despite June's elevated PCE inflation data. All eyes now turn to Apple and Amazon earnings to sustain the rally. The Dow Jones Industrial Average edged up 0.25%, reflecting cautious optimism in traditional sectors.

Market participants appear to be discounting political noise, including former President Trump's criticism of Fed Chair Powell, focusing instead on corporate fundamentals. The session's tech-led advance suggests continued faith in growth sectors despite macroeconomic crosscurrents.