business / news / / The Economic Times
Strong corporate earnings offset concerns over oil supply shocks and geopolitical tensions.
Alphabet reported a record quarter for its cloud unit, driving a surge in its stock price.
KEY POINTS
- Meta and Microsoft shares fell due to concerns over sustained high expenditures on artificial intelligence.
- U.S. jobless claims reached their lowest level since 1969, indicating a strong labor market.
- Federal Reserve held rates steady with its most divided vote since 1992 amid Middle East uncertainty.
- Caterpillar shares hit a record high after reporting strong demand for power generation equipment.
COMPANIES
Summarized by Newsio from The Economic Times. How we summarize →