US stocks rose on Thursday on strong earnings from mega tech companies.
The Nasdaq Composite climbed 2.27%, fueled by upbeat quarterly results from Meta Platforms Inc.
The S&P 500 closed up 72.06 points, or 1.78%, at 4,128.05. The Dow Jones Industrial Average rose 479.55 points, or 1.44%, to 33,781.42.
Shares of Facebook-owner Meta jumped 13.93% to $238.56 after beating earnings estimates.
Stock of First Republic Bank, which had lost more than half its value this week, rose 8.79% to $6.19 on Thursday.
Treasury yields rose on expectations that the Federal Reserve would raise interest rates again next week.
The US dollar strengthened against the euro and yen after data showed US gross domestic product (GDP) grew at an annual rate of 1.1% in the March quarter, up from 2.6% in the fourth quarter last year.
The dollar rose to 133.99 Japanese yen from 133.56. The euro fell from $1.1039 to $1.1025.
Europe
European shares closed higher on Thursday on better results from Deutsche Bank and Barclays. The pan-European STOXX 600 index rose 0.2%.
Deutsche Bank AG climbed 2.5% on better-than-expected first-quarter profit.
Barclays Plc climbed 5.3% on better-than-expected quarterly profit.
Britain’s FTSE 100 fell 0.3% to close at 7,831.58. Germany’s DAX 40 closed at 15,800.45, up less than 0.1%. France’s CAC 40 rose 0.2% to 7,483.84.
Asia
Asian markets continued to grow.
Hong Kong’s Hang Seng index was up 0.4% at 19,840.28. The Shanghai Composite in China was up 0.7% at 3,285.88. South Korea’s benchmark Kospi rose 10.98 points, or 0.44%, to close at 2,495.81.
Japan’s Nikkei 225 closed at 28,457.68, up 0.2%.
Australia’s S&P/ASX 200 index closed at a two-week low of 7,292.7, down 0.3%. New Zealand’s benchmark S&P/NZX 50 index closed down 0.1% at 11,918.22.
oil prices
Brent crude for June delivery rose 68 cents to $78.37 a barrel on Thursday. US crude benchmark for June delivery rose 46 cents to $74.76 a barrel.
bullion
Gold for delivery in June rose $3 to $1,999 an ounce. Silver for July delivery rose 14 cents to $25.21 an ounce.
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