Today’s market sees a buoyant shift, primarily driven by technology stocks. The Nasdaq Composite is up 2.4%, with the S&P 500 also gaining as it aims for its eighth consecutive win. This optimism stems from strong quarterly earnings from firms like Microsoft and Meta, which saw significant boosts in stock prices on AI and cloud-driven performances. Although the recent GDP report was disappointing, the markets are focused on strong tech fundamentals, which might outweigh concerns from jobless claims and other uncertainties as they await Friday's unemployment report.
Market action has been predominantly driven by tech stocks today, with the Nasdaq Composite gaining 2.4% and the S&P 500 poised for its eighth consecutive winning session.
Despite recent economic setbacks, Wall Street embraces strong earnings from tech giants like Microsoft and Meta, buoyed by unwavering demand for AI technologies.
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