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Wall Street opens higher on Meta surge, Fed relief

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Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 27, 2023. REUTERS/Andrew Kelly/File Photo

U.S. stocks jumped on Thursday, with the Nasdaq adding 2% as Meta Platforms surged on rigorous cost controls, while a dovish message from Federal Reserve Chair Jerome Powell boosted bets of a softer landing for the U.S. economy.

The Nasdaq Composite (.IXIC) gained 248.83 points, or 2.11%, to 12,065.15 at the opening bell.

The Dow Jones Industrial Average (.DJI) rose 36.34 points, or 0.11%, at the open to 34,129.30, while the S&P 500 (.SPX) opened higher by 39.47 points, or 0.96%, at 4,158.68.

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