U.S. stocks rose Thursday, boosted by strong results from Meta Platforms
The Dow Jones Industrials sprang back to life 242.8 points to 33,544.67.
The S&P 500 hiked 38.47 points to 4,094.46.
The NASDAQ Composite recovered 157.85 points, or 1.3%, to 12,015.01.
Meta shares leapt more than 13% as the company reported quarterly revenue that beat analysts' expectations. The company also issued stronger-than expected guidance for the current period. Teladoc, Comcast and Merck were also among companies trading higher after reporting earnings.
But Caterpillar, which is often seen as a barometer of the global economy, traded down more than 3% despite the Dow member posting much better-than-anticipated results.
Amazon and Intel will share their quarterly results after the closing bell Thursday amid what has been seen as a major earnings week for the technology sector.
However, sentiment was kept in check after GDP data showed less economic growth than expected. The U.S. economy grew 1.1% in the first quarter, while economists polled by Dow Jones forecasted an expansion of 2%. The report also showed stronger-than-expected inflation, with prices increasing 4% compared with a consensus estimate of 3.7%.
Prices for the 10-year Treasury were lower, raising yields to 3.52% from Wednesday's 3.44%. Treasury prices and yields move in opposite
directions.
Oil prices reacquired 60 cents to $74.90 U.S. a barrel.
Gold prices capsized $6.30 to $1,989.70 U.S. an ounce.