Stocks Soar on Big Tech's Blowout Earnings Despite Trade Tensions

Hold onto your hats, crypto fans! U.S. stocks went wild on Thursday, with the Nasdaq leading the charge, as Microsoft and Meta dropped some serious earnings bombshells. Investors, previously sweating over President Trump's escalating trade war with China, breathed a sigh of relief.

The Nasdaq Composite index flirted with session lows but still ended the day up a solid 1.52%. Why? Because Microsoft shares skyrocketed 7.6% and Meta wasn't far behind with a 4.2% pop. These tech titans are crushing it!

Late Wednesday, both companies revealed quarterly profits that blew past expectations, easing fears that tariffs and global uncertainty might tank Big Tech's AI, cloud, and ad cash flows. It's like they said, "Trade war? What trade war?"

The S&P 500 tried to play it cool, giving up some gains but still edging up 0.63%. Meanwhile, the Dow Jones Industrial Average, not to be left out, added 0.21%, riding its longest winning streak of the year. Markets were partying despite signs of slowing growth. Who knew?

But hold up—weekly jobless claims hit a two-month high, and U.S. GDP took a dive in Q1, making everyone nervous about the upcoming jobs report on Friday. It's like a rollercoaster, folks!

Market Eyes on Apple and Amazon

Now, all eyes are on Apple and Amazon, set to drop their earnings bombs after the close. Both are feeling the heat from the White House's trade policies.

Amazon said, "No way, we're not passing tariff costs onto consumers," while Apple's scrambling to move iPhone production out of China. It's a high-stakes game!

Over at McDonald's, they're feeling the pinch too. Weaker consumer demand and tariff pressures led to a Q1 miss, with U.S. sales slipping and shares dropping 2%. Ouch!

On the geopolitical front, Beijing hinted that Washington might be ready to talk trade again, but the Trump administration's playing it tough, saying China's gotta make the first move. It's like a high-stakes poker game, folks!

But wait, there's more! White House sources are buzzing about a fresh round of trade deals coming soon. Could this be the turning point we've been waiting for?