Salem Radio Network News Wednesday, May 18, 2022

Business

Wall St rises at open as Meta earnings offset GDP worries

(Reuters) – Wall Street’s main indexes opened higher on Thursday as strong earnings from Meta Platforms lifted battered technology and growth stocks, offsetting concerns around data that showed U.S. economic growth unexpectedly contracted in the first quarter.

The Dow Jones Industrial Average rose 124.0 points, or 0.37%, at the open to 33425.96.

The S&P 500 rose 38.6 points, or 0.92%, at the open to 4222.58‚Äč, while the Nasdaq Composite rose 223.9 points, or 1.79%, to 12712.863 at the opening bell.

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Arun Koyyur)

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