Tech Giants Boost Wall Street as Nasdaq Rises 1.5 Percent

Tech giants with strong reports acted as drag horses during Thursday's trading on Wall Street.

» Published: May 01 2025

Tech Giants Boost Wall Street as Nasdaq Rises 1.5 Percent
Photo: Richard Drew/AP/TT

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From opening to closing, it shone green on the leading indexes. At closing, the broad S&P index was up 0.6 percent, the Dow Jones industrial index lifted 0.2 percent, and the technology-heavy Nasdaq composite index rose 1.5 percent.

Facebook's and Instagram's parent company Meta rose 4.2 percent, after beating expectations for the first quarter on Wednesday. Microsoft also exceeded market expectations on Wednesday and lifted 7.6 percent.

The fast-food chain McDonald's went the other way after reporting below market expectations on Thursday, and fell 1.9 percent.

General Motors lowered its profit forecast for the year since USA's President Donald Trump introduced car tariffs. The car giant's share fell 0.4 percent.

Tech giants Amazon and Apple – which report their quarterly reports after closing – lifted 3.1 percent and 0.4 percent, respectively.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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