Tech Giants Report Strong Earnings Amid Fed's Steady Rates

The Federal Reserve's decision to maintain interest rates left the markets largely unaffected initially, but tech earnings stirred significant volatility in the stock market. Tesla's stock rose despite disappointing quarterly results as CEO Elon Musk emphasized future potential in AI and robotics, suggesting the company could become the most valuable globally. In contrast, Microsoft's earnings fell short of expectations, particularly in its cloud business, leading to a notable drop in its stock price. Meta reported strong revenue growth fueled by its advertising business, which positively impacted Alphabet's shares. The mixed results from major tech companies underscore a cautious investor sentiment, especially in light of rising costs and competition in the AI sector. Overall, the tech sector exhibited a split performance, reflecting both optimism and concern among investors.