The broader broader US stock indices are closing higher in the day with the NASDAQ leading the charge with a gain of 2%. The S&P is up 1%, while the Dow Industrial Average is closing near unchanged.
The final numbers are showing:
- Dow Industrial Average and Rosen 6.9 points or 0.02% at 34092.97
- S&P index rose 42.61 points or 1.05% at 4119.20
- NASDAQ rose 231.78 points or 2.00% at 11816.33
- the Russell 2000 index rose 28.86 points or 1.49% at 1960.81
After the close Meta reported earnings of $1.76 which is a shy of $2.22 expected, but revenues were higher than expected at $32.17 billion versus $31.53 billion. Meta also announced a $40 billion increase in share buybacks. They see Q1 revenues of $26 billion – $28.5 billion which was between the expected $27.25 billion. After hours of trading as the stock up 12% as it reacts to the buybacks. Advertising revenue was also higher at $31.25 billion versus expected $30.86 billion.