Microsoft’s third-quarter report contained “every element needed to dissipate various concerns,” according to Bernstein analyst Mark Moerdler. Perhaps the most visible positive was Microsoft’s Azure cloud-computing growth,

Meta raised its capital expenditures guidance for 2025 to $64 billion to $72 billion, signaling huge AI investment by Big Tech is still underway.

U.S. equities jumped at midday, as tech stocks rallied following strong earnings reports from Microsoft and Meta Platforms.