The main US stock market indices opened in the green on Thursday, supported by strong financial performances of tech titans like Amazon Inc., Google-parent Alphabet Inc., Meta Platforms Inc. and Microsoft Corp.
At open, the tech-heavy Nasdaq Composite index rose 0.7% to 24,842.51, S&P 500 was up 0.44% to 7,167.28, and the Dow Jones Industrial Average gained 0.5% to 49,102.84. However, Nasdaq slipped to red shortly after opening.
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As of 10:10 a.m. EST, Nasdaq traded 0.45% lower at 24,572.46, S&P 500 traded flat at 7,135.67, and Dow Jones Industrial Average rose 0.84% to 49,270.31.
Amazon's stock soared 4% in early trade after it reported better-than-expected earnings and revenue for the first quarter, and reported cloud sales that topped analysts' expectations. However, the stock erased gains to trade over 1% lower at $260.
ALSO READ: Here's Why Google Is Beating Meta, Amazon, Microsoft Stocks Post Big Tech Earnings
Out of the four tech giants that posted their earnings, only Google-parent Alphabet traded 6% higher at $370.04. Meta Stock plunged 10% to $602.82, while Microsoft traded 4.5% lower at $405.42.
On the war front, hopes of truce discussions faltered after an axios report claimed that President Donald Trump has prepared a proposal for a “short and powerful” round of strikes on Iran, which could include attacks on key energy infrastructure.
There was some respite in the oil prices, with the West Texas Intermediate trading 1.34% lower at $105.40 per barrel and global benchmark brent crude trading 0.67% lower at $109.70 per barrel.
Among the currencies US spot dollar index weakened and fell 0.5%, while the euro was little changed at $1.1688, British pound rose 0.3% to $1.3509, and the Japanese yen jumped 2.3% to $156.66 per dollar.
Bitcoin, the largest traded cryptocurrency rose 0.6% to $76,110.1.
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