From Nasdaq: 2025-05-02 05:54:00

U.S. stock markets closed higher on Thursday with strong earnings from AI giants boosting investor confidence. The Dow Jones rose by 0.2% to 40,752.96, the Nasdaq climbed 1.5% to 17,710.74, and the S&P 500 was up 0.6% to 5,604.14. Meta Platforms and Microsoft reported impressive earnings, leading to stock price increases of 9% and 7.6%, respectively.

Economic data showed mixed results with manufacturing PMI contracting to 48.7%, new orders rising to 47.2%, and construction spending decreasing by 0.5%. Initial claims for unemployment benefits increased by 18,000 to 241,000, while continuing claims rose to 1.916 million. These figures indicate ongoing challenges for the economy amidst fluctuations in different sectors.



Read more at Nasdaq: Stock Market News for May 2, 2025