Meta's Strong Earnings Boost Tech Stocks in Market Rise

Despite cooler-than-expected economic data, stocks rose on Thursday morning as Meta's better-than-expected earnings report added to a strong week of tech earnings. The S&P 500 was up 0.6%, the Dow Jones Industrial Average added 111 points, and the Nasdaq Composite rose 0.9%. Meta shares soared more than 12% in early trading after topping analyst expectations for revenue and earnings per share. Meanwhile, pressure on First Republic is mounting, and Southwest Airlines shares slumped more than 5% due to a wider-than-expected loss in the first quarter.