© Reuters
By Liz Moyer
Investing.com — U.S. stocks opened higher as tech companies led by Meta Platforms Inc (NASDAQ:) posted positive results, allowing investors to shake off negative news on economic output.
At 9:43 AM ET, the was up 145 points or 0.4%, while the rose 0.7% and the rose 0.9%.
Shares of Meta, the parent of Facebook, bounced 14% in premarket trading on Thursday after it reported a better than expected rise in users in the quarter and at least didn’t disappoint on revenue. The company did say based on growth trends it would slow investments in some areas.
But investors had been bracing for worse. Later on Thursday, reports from Apple Inc (NASDAQ:), Amazon.com Inc (NASDAQ:) and others will help set the tone heading into the weekend.
The first quarter reading on was another issue. It was a negative 1.4%, which missed expectations for a 1.1% gain. It was also well below the previous reading of 6.9%. But high inflation may be the reason for the negative number this time.
The Federal Reserve meets next week to try and tackle that issue by raising interest rates an expected half-point.
Oil prices were flat in early trading. was priced around $101.95 a barrel, while crude ticked up 0.2% to $104.77. was also flat at $1,888 an ounce.
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