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Microsoft Leads Market Rally on AI Cautious Outlook | US News
Stocks rallied Thursday as Microsoft led the charge with a 15% surge after beating earnings expectations—thanks to strong Azure growth and reassuringly modest AI spending. The Nasdaq soared 2.49%, while the S&P 500 and Dow also climbed. Meta took a hit, falling 8.9%, after missing profit targets despite slight revenue gains, raising alarms about AI spending risks. Chipmakers like Micron, Lam Research, and AMD rebounded as AI hype cooled slightly. Treasury yields eased, and softer-than-expected economic data helped calm nerves, with inflation and oil prices stabilizing. Listen in comfort:Get a…
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