U.S. stocks rose Thursday, rebounding from the prior day’s selloff when the Federal Reserve decided to hold rates steady. Microsoft and semiconductors helped drive those gains.
The Dow Jones Industrials restored 301.17 points of what it lost Wednesday to 51,895.31.
The S&P 500 regained 65.17 points to 7,381.32.
The NASDAQ Composite surged 389.17 points, or 1.6% to 24,832.12.
Microsoft jumped 11% amid growth from its Azure business.
In contrast, Meta Platforms was down 9% after issuing a soft revenue forecast and a 91% drop in second-quarter free cash flow.
One of the busiest weeks of corporate earnings continues Thursday, with Amazon, Apple and Coinbase set to report after the close.
Wall Street is coming off a dismal session. On Wednesday, the Dow plunged more than 1,100 points, marking the blue chip index’s worst decline since April 2025. The NASDAQ fell into correction territory.
The latest economic data released Thursday showed U.S. growth slowing to a 1.5% in the second quarter, according to Bureau of Labor Statistics. That missed the Dow Jones consensus estimate of 1.8%.
Inflation remained above the Fed’s target. The latest personal consumption expenditures price index falling a seasonally adjusted 0.1% for the month, and 3.7% for the year, in line with the Dow Jones consensus estimate.
But core PCE, which excludes food and energy, showed a monthly increase of 0.1% and an annual level of 3.3%. Economists were anticipating respective forecasts for 0.2% and 3.3%.
Prices for the 10-year Treasury improved, lowering yields to 4.66% from Wednesday’s 4.68%. Treasury prices and yields move in opposite directions.
Oil prices slipped $1.16 to $83.30 U.S. a barrel.
Gold prices shone brighter $35.90 to $4,072.20 U.S. an ounce.
