Stock market news today: S&P 500, Nasdaq climb as Fed delivers and Meta jumps

US stocks resumed their rally on Thursday, as upbeat Meta results put earnings center stage again after the Federal Reserve boosted hopes for a September rate cut. The S&P 500 rose 0.4% while the tech-heavy Nasdaq Composite gained roughly 0.4%, after the indexes closed with hefty gains. The Dow Jones Industrial Average edged up about 0.1%.

Read more: 32 charts that tell the story of markets and the economy right now The focus is now on quarterly results, especially from Big Tech names, after Meta's strong report late Wednesday. Shares in the Facebook owner climbed over 8% as the market appraised its earnings beat and signs that solid digital ad revenue will give its AI investments time to pay off. Earnings from Apple and Amazon due after the bell could test the Meta-driven bullishness for techs.

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