The Nasdaq 100 hit a new all-time high on Thursday, driven by strong results from Microsoft and Meta, as markets brushed off slightly hotter inflation data. Nvidia also opened at a record high, climbing more than 1.5% and adding to the tech rally.
The Fed's preferred gauge, the PCE index, showed annual inflation at 2.6%, coming above estimates. Separately, Treasury Secretary Scott Bessent said US-China talks were progressing, with both sides nearing a potential deal.
At 9:00 am ET, the Dow Jones Industrial Average jumped 0.17% with Microsoft climbing 8.18% and surpassing the $4 trillion in market capitalization. The S&P 500 increased 0.81% with CVS Health Corporation gaining 6.01%. The Nasdaq 100 soared 1.04% to reach the benchmark of 23,589.368, driven by a stunning 11% surge in Meta Platforms after its standout earnings report. The euro was flat against the dollar at 8:58 am ET to sell for $1.14104.
