IXIC: Nasdaq Composite Surges 1.5% as Traders Cheer Big Tech Earnings Data

Tech-heavy index is roaring back to the frontline after days of hesitation as money spinners are feeling optimistic thanks to solid earnings results from the megacaps.

💪 Nasdaq Gains as Tech Shows Up

• The Nasdaq Composite index IXIC added a solid 1.5% on Thursday driven by convincing data that Big Tech is actually doing pretty well so far this year (at least in the first three months).
• The tech-heavy index’s two peers were also flashing green candles — the Dow Jones Industrial Average added 0.2% and the broad S&P 500 staged a late-session rally to log its seventh straight day of winning, up 0.6%.

💥 Meta and Microsoft Pop

• The month of May is off to a good start thanks to the earnings numbers by two tech heavyweights. Meta META and Microsoft MSFT delivered a beat on both the top and bottom line. The social media company rallied 4.2% after updating its capex guidance for the year. Apparently, AI spending is picking up.
• Software giant Microsoft took off by 7.6% as Satya Nadella praised the company’s data center expansion and the mouth-watering cloud performance where Azure delivered a 33% year-on-year growth.

❌ Amazon and Apple Drop

• Two more technology juggernauts waltzed into the earnings show on Thursday, after the bell, but slipped on the tariff floor. Amazon AMZN and Apple AAPL both fell in after-hours trading as the companies’ guidance didn’t mince words when it came to tariffs and their impact on the business.
• Amazon, which posted a 9% revenue growth to $155.7 billion, said Trump’s tariffs could dent the second-quarter performance. Apple was more precise, saying the current quarter’s showing could get a $900 million hit from the aggressive levies on China. Sales of Apple rose 5% to $95 billion with a 2% growth in iPhone sales (that’s people rushing to get the phone before tariffs bumped up the price tag).