Wall St opens higher as Microsoft's results temper some AI jitters
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FILE PHOTO: A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, March 25, 2024. REUTERS/Gonzalo Fuentes/File Photo
July 30 (Reuters) - U.S. stocks opened higher on Thursday as Microsoft's forecast-beating results soothed investor concerns about massive AI spending by companies, while investors parsed fresh readings of GDP and inflation data a day after the Federal Reserve's rate decision.
The Dow Jones Industrial Average rose 520.1 points, or 1.01%, at the open to 52,114.27. The S&P 500 rose 74.3 points, or 1.02%, at the open to 7,390.45, while the Nasdaq Composite rose 409.1 points, or 1.67%, to 24,852.047 at the opening bell.
(Reporting by Shashwat Chauhan in Bengaluru)
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