Technology stocks bounced higher Thursday, led by Meta Platforms, as investors cheered the company’s solid earnings report that showed resilience in the face of rising inflation.
The Facebook owner’s stock rose 17% after the company said it had added more users than investors expected in the first quarter. That gain helped send the Nasdaq Composite Index up 2.1% and boosted the S&P 500 technology sector, the best performing group in the index in midday trading. The next big earnings test comes after the closing bell, when Apple and Amazon. com report their quarterly results.