Thursday saw an increase in stocks as traders assessed the most recent company earnings releases, which included impressive Meta Platforms performance.
Both the Nasdaq Composite and the S&P 500 saw increases of 0.3% and 0.4% respectively. 178 points, or 0.4%, were added to the Dow Jones Industrial Average.
With better-than-expected second-quarter results and optimistic forecast, Meta Platforms gained almost 8%, while Shake Shack saw a gain of more than 16% following the release of revenue beats.
After providing a lacklustre current-quarter guidance, Arm Holdings saw an approximately 9% decline. Following a cut to its full-year sales projection, Moderna’s stock fell by about 17%.
The S&P 500 improved 1.6% for its highest day since February during the last successful session in the stock market. With 30 stocks in the Dow closing marginally higher, the Nasdaq surged more than 2%.
Source (CNBC)
