Stocks Surge as Microsoft Leads Tech Rally on Strong Cloud Growth

EarningsMacro Impact 4
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Summary · why it matters

US stocks settled sharply higher on Thursday, with the Nasdaq 100 jumping 3.36%, as Microsoft surged more than 15% after reporting that fourth-quarter Azure and other cloud services revenue excluding foreign exchange rose 43%, exceeding the consensus of 39.3% and marking the fastest quarterly growth in four years. The S&P 500 gained 1.66% and the Dow Jones Industrial Average added 1.19%, while chipmakers and AI-infrastructure stocks rallied broadly, pushing the Philadelphia Semiconductor Index up more than 8%. Meta Platforms fell more than 7% after a disappointing revenue forecast, and bond yields edged higher with the 10-year Treasury note yield rising 3 basis points to 4.67% amid concerns that Fed Chair Warsh may struggle to curb inflation. In economic data, second-quarter GDP grew at a 1.5% annualized rate, below the 2.0% estimate, while the core PCE price index eased to 3.3% year-over-year as expected.

Impact on stocks 46

Artificial Intelligence± Mixed · 17 stocks
Microsoft Corporation
MSFT
▲ PositiveDemandrelevance

Azure cloud revenue grew 43%, beating estimates and marking fastest quarterly growth in four years.

Consumer Discretionary▲ · 5 stocks
Biotech & Genomic Medicine▲ · 4 stocks
Semiconductors▲ · 4 stocks
Digital Finance & Tokenization▲ · 4 stocks
Cloud & Digital Infrastructure▲ · 2 stocks
Financials▲ · 2 stocks
Materials▲ · 2 stocks
Energy Transition & Power Demand▲ · 1 stocks
Aging Population▲ · 1 stocks
Consumer Staples▲ · 1 stocks
Energy▲ · 1 stocks
Defense & Geopolitical Fragmentation▲ · 1 stocks
Fusion Energy▲ · 1 stocks

Theme Impact 5

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