U.S. stocks opened higher on Wednesday as a rally in Microsoft Corp.
shares helped to boost the Nasdaq Composite. However, further declines in shares of First Republic Bank FRC following its Monday earnings report were seen as a cause for concern. The S&P 500 SPX gained 8.5 points, or 0.2%, to 4,080. The Nasdaq Composite COMP rose by 93 points, or 0.8%, to 11,892, after finishing Tuesday’s session at its lowest closing level in nearly a month. The Dow Jones Industrial Average DJIA gained 88 points, or 0.3%, to 33,618.
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STOCK MARKET UPDATES: UK blocks Microsoft Activision deal, First Republic shares sink, Nasdaq leadsMicrosoft-Activision $69 billion deal is blocked by the UK, the Nasdaq rallies helped by tech earnings ahead of eBay, Amazon and Meta. First Republic fights for survival and the debt ceiling fight intensifies on Capitol Hill. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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Microsoft surge sees Nasdaq futures lead market reboundA sharp rally in Microsoft stock, alongside less ebullient gains for Alphabet's shares, looked set to spark a rebound for Wall Street on Wednesday.
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