Microsoft Boosts Markets Amid Mixed Tech Earnings

Oil prices fell on Thursday as markets bounced back from mixed earnings reports from US tech giants. Microsoft led the way, jumping 15.5% for its best day in nearly 18 years after reporting a stronger profit than analysts expected.

The company's strong Azure cloud business and lack of AI investment announcements helped drive the gains. In contrast, Meta Platforms' weaker-than-expected profit and increased spending on investments weighed on its stock, falling 8%.

Computer chip companies also regained some ground after a recent slump, with Micron Technology up 18.4% and Lam Research soaring 18% after reporting stronger profits and revenue than expected.