U.S. stocks rebounded Thursday after a sharp decline the day before, which was triggered by the Federal Reserve’s decision to keep interest rates unchanged. Leading the gains were Microsoft and semiconductor stocks.
The Dow Jones Industrial Average rose by 308 points, or 0.6%. The S&P 500 increased by 1%, and the Nasdaq Composite surged by 2%.
Microsoft shares soared 11%, driven by strong growth in its Azure cloud services. Semiconductor stocks also rallied, with the iShares Semiconductor ETF (SOXX) climbing over 5.8%.
Meanwhile, Meta Platforms declined 9% following a cautious revenue outlook and a 91% drop in second-quarter free cash flow.
Source (CNBC)
