Dow climbs 1.8% and S&P 500 rises 1.6% amid relief over Microsoft and Facebook results,while Tesla earnings miss expectationsWall Street breathed a sigh of relief after Microsoft and Facebook reported positive earnings on Wednesday, while the Federal Reserve’s decision to retain US interest rates the same added to optimism that a slowdown in the global economy may not be as sharp as economists have feared.
While the market reacted positively, and Microsofts results initially disappointed investors,with revenue coming in at $32.47bn, slightly lower than the $32.51bn expected by analysts, and causing shares in the Seattle giant to drop 3%. Related: Facebook posts record profit despite year of scandal Related: Apple reports first decline in revenues and profits in over a decade Continue reading...
Source: theguardian.com