US Stock Market Today | Dow Jones | Nasdaq Live: S&P 500, Nasdaq open higher as earnings optimism offsets Middle East fears
The S&P 500 and Nasdaq opened higher on Thursday as strong earnings reassured investors, despite concerns over escalating tensions in the Middle East. US tech giants reported that spending on artificial intelligence would not slow down, with combined outlays set to surpass $700 billion this year.
The S&P 500 and Nasdaq Composite rose on Thursday, driven by strong earnings reports from major tech companies. The S&P 500 gained 25.8 points to 7,161.75, while the Nasdaq Composite rose 186.7 points to 24,859.941. The Dow Jones Industrial Average initially fell but later surged 430.12 points to 49,291.93. Brent crude futures surged to a near 4-year high amid fears of disruption to global oil supplies due to US-Iran tensions. The Federal Reserve kept interest rates unchanged, but signaled caution due to high inflation. Alphabet shares jumped 6.36% to $369.41 after reporting strong cloud growth, while Amazon shares fell 0.86% to $260.77. All four US tech giants that reported results on Wednesday indicated that spending on artificial intelligence would not slow down, with combined outlays set to exceed $700 billion this year.
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