Wall Street Piles More Onto Big Start to Year as Tech Surges
NEW YORK—Wall Street’s bang to start the year got even bigger Thursday, as tech stocks and a surge for Facebook’s parent company led the market higher.
The S&P 500 rallied 1.5 percent a day after hitting its best level since August. The Nasdaq composite soared 3.3 percent, while the Dow Jones Industrial Average lagged because it has less of an emphasis on tech. It slipped 39 points, or 0.1 percent.
Meta helped lead the way with a 23.3 percent leap after it reported better revenue for the latest quarter than analysts expected and said it expects to spend less this year than earlier forecast. While its latest profit fell short of expectations, Facebook’s parent also announced a program to buy back $40 billion of its stock….