US equity markets staged a sharp recovery on Tuesday, with the Dow Jones Industrial Average jumping 1.01% to 52,114 points at the open.
The rally came as investors digested a wave of corporate earnings and fresh economic data, seeking stability after a volatile session the previous day triggered by the Federal Reserve's interest rate decision.
The tech giant reported quarterly results that exceeded market expectations, providing crucial reassurance regarding its artificial intelligence capital expenditure strategy.
Microsoft (MSFT.O) was the primary catalyst for the turnaround.
The tech giant reported quarterly results that exceeded market expectations, providing crucial reassurance regarding its artificial intelligence capital expenditure strategy.
The strong performance helped alleviate growing investor concerns about the efficiency of AI spending across the sector, allowing tech-heavy indices to regain footing.
The Nasdaq Composite also posted gains, outpacing broader market indices as sentiment improved among growth stocks.