Alphabet surged on Wall Street,
Photo: Richard Drew/AP/TT

Alphabet surged on Wall Street, Meta plummeted after quarterly reports

Google owner Alphabet surged on the New York Stock Exchange after its quarterly report. By contrast, Facebook owner Meta plunged after its quarterly report.

At the close on Thursday, the Dow Jones industrial average had risen 1.6 percent, the broad-based S&P 500 index 1 percent and the technology-heavy Nasdaq composite index 0.8 percent.

Alphabet rose 10 percent. The company's report on Wednesday evening was better than expected, notably in cloud services revenue.

Meta raised its investment forecast, which the market disliked. On Thursday, the stock plunged 8.7 percent.

The S&P 500 closed Thursday at a new record high and posted its best month since November 2020, rising over 10 percent in April, according to CNBC.

The Nasdaq also closed at a record high and had its best month since April 2020, rising just over 15 percent. The Dow ended April up over 7 percent - the strongest month since November 2024.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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