Microsoft and Google jumped on earnings late after the market rally attempt showed resilience Wednesday amid Meta's sell-off.
Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms. Three other Magnificent Seven stocks, including Alphabet, Amazon.com and Microsoft, finished lower. However, shares of Alphabet and Microsoft were advancing in extended hours trading after both companies reported quarterly results that beat Wall Street estimates.
Software kingpin Microsoft beat estimates for its fiscal third quarter, thanks to healthy cloud computing business.