Meta Misses, Microsoft Beats: Stocks React to Earnings Reports

Stocks are higher on Thursday morning after a down day yesterday.

Federal Reserve Chair Kevin Warsh's comments sparked some concerns about inflation, but the market is looking ahead to key earnings reports from Apple and Amazon tonight.

Megacap tech company Meta Platforms missed Wall Street's earnings estimates and gave weak guidance for the current quarter, causing shares to drop 10% premarket. In contrast, Microsoft beat analysts' revenue expectations and increased capital spending due to high demand.

Tehran threatened fresh retaliation against the US after a series of strikes on Iranian military targets, but oil prices are lower today after surging nearly 8% yesterday.