Microsoft and Meta surpassed earnings projections, significantly driving up Wall Street. Both companies reported strong growth, with Microsoft’s Azure cloud segment attracting considerable investor interest.
Contrasting the positive momentum, Tesla shares fell over 3% following news regarding the search for a new CEO to replace Elon Musk, causing unease among investors.
Despite a reported 0.3% shrinkage in GDP for Q1, traders chose to disregard this and instead focused on the promising tech earnings, resulting in a notable market recovery by the day’s end.
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