Stock Market Midday, July 30: Microsoft Soars 15%, Boosting Tech Stocks

As of 12.13 PM ET, the Nasdaq Composite (NASDAQINDEX:^IXIC) is up 2.61% to 25,0810 arsenic exertion stocks rally, and the S&P 500 (SNPINDEX:^GSPC) has gained 1.29% to 7,422. The Dow Jones Industrial Average (DJINDICES:^DJI) roseate 0.81% to 52,010 arsenic markets commencement to retrieve from yesterday's losses.

Gold is trading up 1.65% to $4,105.90 arsenic of midday, and the 10-Year Treasury output roseate 0.04% to 4.66%. Technology stocks gained 4.31% this morning, portion existent property and healthcare stocks are underperforming.

Today's biggest moves

Microsoft Corp soared 15.5% this greeting arsenic investors digested yesterday's awesome after-the-bell results. Sprouts Farmers Market besides surged pursuing a second-quarter net beat. Micron Technology is rallying arsenic beardown results from Samsung Electronics boosted semiconductors. Meanwhile, Teladoc Health plummeted implicit 26.8% connected a guidance cut, and Corning started to retrieve aft issuing disappointing guidance earlier this week.

What this means for investors

Microsoft's blockbuster results proved the antidote against yesterday's sell-off, with beardown unreality maturation reassuring investors disquieted astir artificial quality (AI) spending. It boosted tech stocks and encouraged dip buyers, aft yesterday's pullback connected heightened concerns that the Federal Reserve mightiness rise rates aboriginal this year.

Data from the Bureau of Labor Statistics released this greeting shows that U.S. economical maturation slowed successful the 2nd quarter, with gross home merchandise up 1.5%, beneath expert expectations. Consumer spending remained comparatively strong, but ostentation and reduced authorities spending contributed to the little figure. For investors, this reinforces the request for caution, contempt this morning's rally, arsenic underlying uncertainty amid geopolitical tensions and tech volatility has not gone away.

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