U.S. Stocks Open Mixed; Meta Jumps 10%, Tesla Gians 2%, Microsoft Sinks 9% After Earnings

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U.S. Stocks Open Mixed; Meta Jumps 10%, Tesla Gians 2%, Microsoft Sinks 9% After Earnings

Tiger Newspress01-29 22:30

U.S. stocks opened mixed on Thursday as traders mulled over the release of earnings reports from major technology firms as well as the latest Federal Reserve interest rate decision.

The broad market index advanced 0.1%, while the Dow Jones Industrial Average advanced 16 points. The Nasdaq Composite fell 0.1%.

Meta Platforms jumped 10% after the Facebook parent gave a stronger-than-expected first-quarter sales forecast. Fellow "Magnificent Seven" member Tesla shares saw gains as well, climbing nearly 2% after the company's fourth-quarter results beat expectations.

However, the broad market gains were kept in check by Microsoft's 9% fall. That megacap tech name reported that cloud growth slowed in the fiscal second quarter. The company also issued soft guidance on operating margin for the fiscal third quarter.

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