US Stocks Rebound Sharply on Thursday with Nasdaq Surging Over 3%
On July 31, US stocks staged a strong rebound after earlier losses driven by Federal Reserve concerns. The Nasdaq Composite surged over 2.8%, the S&P 500 rose nearly 1.7%, and the Dow Jones Industrial Average climbed almost 1.2%. Microsoft led the tech sector with its stock jumping more than 15% following a record one-day gain in market value, driven by Azure cloud revenue surpassing $100 billion for the first time. Meta's shares fell about 8%, extending their losing streak after missing earnings expectations and raising concerns over AI investment returns. The broader tech sector rallied despite geopolitical tensions from recent US strikes on Iran and a bond market rout pushing Treasury yields to multi-decade highs. Investors also looked ahead to upcoming reports from Amazon and Apple, with focus on cloud spending and margins. The rebound came after the Nasdaq-100 entered correction territory earlier in the week.
Tickers: $AAPL $AMZN $META $MSFT
Topics: Dow Jones rebound Meta Microsoft Nasdaq rally S&P 500 recovery