The S&P 500 and the Nasdaq got a boost from Facebook Inc’s stellar earnings on Thursday, while the Dow was weighed down by a bunch of disappointing quarterly results as investors awaited the outcome of the U.S.-China trade talks.
Wall Street surged on Thursday after the U.S. central bank said it would be patient in raising rates further this year, reassuring investors concerned about tighter financial conditions crimping economic growth.
The Fed’s dovish tone, along with heartening results from tech companies including Apple Inc and Facebook set the main U.S. indexes on track for their best month in about three years.
Facebook jumped 13 percent after its quarterly profit topped analysts’ estimates, showing that digital advertisers were still flocking to spend money on the service even after a series of high profile embarrassments.
via Reuters
