By chuck mikolajczak

New York (Reuters) – The New York Stock Exchange ended up on Thursday, the Dow Jones and the S & P -500 registering in the green for an eighth consecutive session, after the solid quarterly results of Microsoft and Meta appeased the fears about heavy investments made in artificial intelligence (IA).

The Dow Jones index won 0.21%, or 83.60 points, at 40,752.96 points.

The wider S&P-500 took 35.08 points, or 0.63%, at 5.604.14 points.

The Nasdaq Composite advanced 264.40 points (1.52%) at 17,710.74 points.

The S & P-500 and the Dow Jones had not experienced such a long increase in increase since last August and May last respectively.

Microsoft climbed 7.6%, reaching a peak since the beginning of January, the day after the publication after-closing of solid results and an optimistic quarterly forecast for the growth of its Azure artificial intelligence platform. The group has briefly exceeded Apple to the rank of first world market valuation.

For its part, Meta Platforms took 4.2%, to be a higher since April 9, after having communicated a turnover higher than expectations over the period January-March in the wake of important advertising revenues.

These solid results of two of Wall Street’s “Seven Magnificent” have helped to reassure investors that the large investments deployed in favor of the AI ​​were paying off.

They have also attenuated concerns about the possible repercussions on the economic growth of customs duties decided by the administration of US President Donald Trump.

Greeting that “the day was guided by the results rather than simply by discussions on customs duties”, Lamar Villere, portfolio manager at Villere & Co in New Orleans, noted that the press releases of Microsoft and Meta suggested that “their cycle is not finished”.

The confusing trade policy of the White House, with multiple reversals over the weeks since the start of Donald Trump’s second term, has hovered a shadow on the results season, a number of companies that decided to revise downwards or even withdraw their forecasts.

Despite the uncertain horizon, it is expected that the turnover of S&P-500 companies was up 12.9% over one year in the first quarter, according to LSEG data, against growth of 8% anticipated on April 1.

Amazon and Apple in turn published after the closure Thursday their quarterly results. The first named progressed in session, while the second was more volatile, alternating withdrawal and light earnings, to finish at +0.4%.

Economic data published during the day painted a mixed table. Weekly unemployed registrations in the United States have increased more than expected, which can suggest an increased number of layoffs following the entry into force of new customs duties. A key report on the American labor market is expected on Friday.

Manufacturing activity in the United States again contracted in April, according to the ISM index, but at a less important rate than analysts provided for.

Among the major sectors of the S&P-500, technologies and communication services marked the most important increases of the day, 2.2% and 1.6% respectively, in the wake of Meta and Microsoft gains.

Also note, on the values ​​side, the fall of 11.7% of Eli Lilly despite quarterly results superior to expectations, after CVS Health decided to no longer reimburse his Zepbound medication against obesity. The health sector sold 2.8%. McDonald’s fell 1.9%, weighing on the Dow Jones, following an unexpected drop in its global quarterly sales.

Qualcomm lost 8.9% after saying fear of harmful repercussions of customs duties on its activities.

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(Written by Jean Terzian)

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