Microsoft shares surged 15.5% Thursday in their best day in nearly 18 years, driven by stronger-than-expected quarterly results and robust growth in its Azure cloud business tied to artificial intelligence. The S&P 500 rose 1.7% and the Nasdaq gained 2.8%, while semiconductor stocks like Micron Technology, Lam Research and AMD also rallied sharply after recent losses. Meta Platforms, however, fell 8% due to profits missing expectations and raised investment spending forecasts. On the bond market, long-term Treasury yields held steady with the 10-year yield at 4.67% and the 30-year at 5.22%, amid persistent concerns about inflation remaining above the Federal Reserve’s 2% target.
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