US stocks up as strong Meta results boost big tech
Thursday, August 01, 2024       21:01 WIB

New York, Aug 1, 2024 (AFP)
Wall Street stocks climbed early Thursday as markets digested the latest Federal Reserve policy decision while strong earnings from Facebook parent Meta lifted hopes about other upcoming tech results.
Stocks gained Wednesday after Fed Chair Jerome Powell opened the door to a September interest rate cut in commentary that met investor expectations.
Meta surged more than eight percent after reporting better than expected profits, on a 22 percent jump in revenue to $39 billion.
Apple and Amazon, both of which report their financial results later Thursday, advanced in early trading.
About 10 minutes into trading, the Dow Jones Industrial Average was up 0.4 percent at 41,016.59.
The broad-based S&P 500 gained 0.6 percent to 5,554.38, while the tech-rich Nasdaq Composite Index climbed 0.6 percent to 17,697.31.
The Bank of England cut its main interest rate for the first time since the Covid-19 pandemic broke out in 2020, following a narrow 5-4 vote.
Markets are looking ahead to Friday's US jobs report, another key data point in the prospect for Fed rate cuts.

Sumber : AFP