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Stock market news: Dow soars 524 points after upbeat tech earnings

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Dow soars 524 points as US stocks notch best day since January after streak of upbeat earnings

US stocks had their best day in months after strong corporate earnings, with traders sidestepping concerns about the economy as growth data for the first quarter came in lower than expected.

The Dow Jones Industrial Average jumped more than 500 points during the session, notching the gauge's best day since January 6.that beat expectations and issuing an upbeat forecast. The social media giant followed solid earnings from both Alphabet and Microsoft. Equities rose despite GDP increasing less than expected for the first quarter, piling on to worries of a looming recession. The economy grew at a rate of 1.1% on an annualized basis in the first three months of 2023.

 

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