Wall St rallies as Meta earnings offset economy worries

estimates for quarterly profit, thanks to sustained demand for its broadband services and higher theme park attendance.U.S. economic growth slowed more than expected in the first quarter as an acceleration in consumer spending was offset by businesses cutting back on inventory investment.

"If we're looking to the future, data does seem to be continuing to weaken. The good news is we do think a recession could be mild," said Brian Klimke, investment director at Cetera Investment Management. Despite slower growth, which mostly reflected a drag from weak inventory investment, the Federal Reserve is expected to raise interest rates by another 25 basis points next week.

Treasury yields moved higher across the board as investors weighed a showdown over the U.S. debt ceiling with economic data suggesting inflation could remain sticky despite a slowing economy.a bill to raise the government's $31.4 trillion debt ceiling that includes sweeping spending cuts over the next decade. The bill is expected to get stalled in the Senate.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nasdaq 100 futures lead gains as Meta surges on earningsFor the second consecutive day early action is dominated by a surge in Nasdaq futures after a well-received set of results from a tech-sector mega cap.
Source: MarketWatch - 🏆 3. / 97 Read more »

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.
Source: MarketWatch - 🏆 3. / 97 Read more »

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.
Source: FoxBusiness - 🏆 458. / 53 Read more »

U.S. stocks open higher as Microsoft gains boost NasdaqU.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...
Source: MarketWatch - 🏆 3. / 97 Read more »

Nasdaq climbs on strong Microsoft earnings, Boeing jumpsThe tech-heavy Nasdaq advanced on Wednesday as strong Microsoft results offset concerns over rising interest rates.
Source: Reuters - 🏆 2. / 97 Read more »