US stocks advanced on Thursday, with the Dow and S&P 500 posting their eighth straight session of gains after strong results from megacaps Microsoft and Meta eased concerns about artificial intelligence spending. Meta Platforms gained 4.2% and closed at its highest since April 9 after posting higher-than-expected revenue on the back of a strong advertising performance. S&P 500 first-quarter earnings are seen growing 12.9% on an annual basis, per LSEG data, up from the 8% growth rate seen on April 1. McDonald's also reported earnings and shares declined 1.9% to cap gains on the Dow after posting a surprise drop in first-quarter global sales. The S&P 500 posted 11 new 52-week highs and four new lows while the Nasdaq Composite recorded 45 new highs and 66 new lows.

Source: bd News24 May 02, 2025 09:57 UTC