tocks rose in early trading Thursday as the market tried to recover some ground lost during this month’s sell-off after a strong earnings report from Meta Platforms.
The Dow Jones Industrial Average added about 190 points or 0.6%. The S&P 500 gained 1.3%. The Nasdaq Composite jumped 1.8%.
Shares of Meta surged more than 18% following abeat on earnings, a sign that investors may see signs of relief in the beaten-up tech sector. Shares were down 48% on the year heading into the results.
Meanwhile, shares of Qualcomm gained more than 5% on the back of strong earnings, while PayPal rose roughly 3% despite issuing weak guidance for the second quarter.
McDonald's, Merck, Eli Lilly and Southwest were all higher Thursday after better-than-expected quarterly reports.