CNBC Daily Open: Markets had their best day in three months
Publishing timestamp: 2023-04-28 01:52:53
Summary
U.S. markets rallied on Thursday due to strong earnings reports from Big Tech and weaker-than-expected U.S. GDP data, which made some investors bet that the Federal Reserve could soon wrap up its tightening campaign. Meta's shares rose 14% after the company beat revenue expectations for the first quarter. Amazon's revenue was better than expected, but the company warned that growth in its cloud unit might slow this year, causing its shares to fall. Intel's shares rose despite the company posting its largest-ever quarterly loss, as investors took heed of the company's cost-cutting measures. The first-quarter GDP report suggests that the economy is slowing, but investors seemed to interpret the figure as a signal that the Federal Reserve could soon stop its rate-hiking regime.
Sentiment: MIXED
Tickers: GOOGL, MSFT, META, AMZN, INTC, .BBKA, AAPL,
Keywords: united states, intel corp, markets, gross domestic product, meta platforms inc, business news, alphabet inc, deutsche bank ag, technology, apple inc, world markets, microsoft corp, earnings, economic events, amazon.com inc,
Source: https://www.cnbc.com/2023/04/28/stock-markets-markets-had-their-best-day-in-three-months.html