US Stocks Rebound
2026-07-30 13:39
By
Andre Joaquim
1 min. read
US equities rebounded on Thursday from sharp losses yesterday amid a batch of corporate earnings and respite for chip stocks.
The S&P 500 and the Dow gained over 0.5%, while the Nasdaq 100 gained 1.5%.
Microsoft surged nearly 12% after posting a 43% growth in cloud revenues, the most since 2022.
This combined with capital expenditure forecasts that did not outpace expectations, limiting concerns of unsustainable AI spending.
Also, chip producers enjoyed some respite following their selloff yesterday with Micron and Sandisk rising over 9%.
Conversely, Meta tanked 10% after its guidance missed expectations, while markets remained skeptical on whether its AI labs will drive revenue as signaled by the hyperscaler.
Meanwhile, long-dated yields held their surge despite softer-than-expected GDP growth in Q1.
The Fed held rates yesterday, but Chair Warsh's reluctance to signal a rate hike raised concerns that inflation could be higher for longer.
Apple and Amazon report after the bell.