Meta Platforms Inc.Meta's earnings reflected costly AI bets, causing a 10.2% drop.
Global stocks rebounded on Thursday after US inflation data matched expectations and Microsoft earnings eased some AI spending worries, while the 30-year Treasury yield rose to its highest since 2007. The Personal Consumption Expenditures Price index fell 0.1% in June, in line with estimates, and stood at 3.7% annually. Nasdaq 100 futures rose 1.51%, S&P 500 futures gained 0.60%, and Dow futures added 0.35%. Microsoft shares jumped 9.02% in premarket trading after projecting cash generation through fiscal 2027, but Meta tumbled 10.2% as its earnings reflected costly AI bets. The 30-year Treasury yield was last at 5.2124%, while Europe's STOXX 600 rose 0.65% and the MSCI All Country World Price index inched 0.25% higher.
Meta Platforms Inc.Meta's earnings reflected costly AI bets, causing a 10.2% drop.
Microsoft CorporationMicrosoft projected strong cash generation through fiscal 2027, leading to a 9.02% premarket jump.