US Stocks Gain Momentum as Tech Earnings Point to Brighter Prospects

Key Highlights:

* US stocks rallied on Thursday afternoon, fueled by positive megacap tech earnings and anticipation of Apple (AAPL) results for further insight into Big Tech's prospects.
* Investors parsed earnings reports, particularly from the "Magnificent Seven" companies that have driven broader market gains.
* Tesla (TSLA) shares ticked higher despite an earnings miss, as investors embraced its pledge to return to growth in 2025.
* Meta (META) surpassed quarterly earnings estimates, boosting its stock, while Microsoft (MSFT) shares declined after its cloud revenue underwhelmed.
* The Bureau of Economic Analysis reported slower-than-expected 2.3% economic growth in the fourth quarter, below economist forecasts.

Additional Insights:

* The Nasdaq Composite (^IXIC) gained nearly 0.3%, while the Dow Jones Industrial Average (^DJI) rose 0.4%.
* The S&P 500 (^GSPC) added 0.5%.
* President Trump's threat of 25% tariffs on Mexico and Canada led to a spike in the US dollar (DX=F) index, which later reversed losses to close near flat.
* Shares of Apple (AAPL) fell about 1% after its earnings report, which revealed revenue shortfalls in iPhone and Greater China regions.