U.S. stock markets saw notable gains on Thursday. By the close of trading in New York, the Dow Jones Industrial Average had reached 49,652 points, marking a 1.6 percent increase compared to the previous day. Minutes earlier, the broader S&P 500 was up 1.0 percent, settling around 7,209 points, while the technology-heavy Nasdaq 100 was calculated at approximately 27,452 points, also up 1.0 percent.
Several major tech corporations, including Alphabet, Amazon, Microsoft, and Meta, released their first-quarter figures. These tech giants reported unexpected and robust increases in both revenue and profit. Market observers interpret this positive performance as evidence of the growing influence of “Artificial Intelligence”. While these companies plan to intensify their investments in technology throughout the year, a portion of the rising investment costs is attributed to higher component prices. Despite strong quarterly results, Meta’s stock fell significantly because some investors remain critical of the high associated costs.
In currency markets, the Euro strengthened on Thursday evening, reaching 1.1731 US dollars per Euro, translating to a dollar valued at 0.8524 Euros.
Commodities also posted gains. Gold prices rose considerably; at the evening session, a fine ounce traded at $4,617, representing a 1.5 percent increase, or 126.53 Euros per gram.
Oil prices also increased. The Brent crude oil variety traded at $110.90 per barrel around 10:00 PM German time, an increase of 49 cents, or 0.4 percent, compared to the close of the previous trading day.