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Positive earnings reports from Meta, Microsoft, and Tesla significantly boosted shares of major tech ETFs SPY and QQQ on Thursday. Despite Tesla's weaker fourth-quarter results, CEO Elon Musk's optimistic predictions about future innovations sparked a 3% rise in its stock. Meanwhile, Meta's stock climbed 2% due to strong earnings and ambitious AI forecasts from CEO Mark Zuckerberg. Conversely, Microsoft shares fell over 6% after its cloud growth disappointed investors, while Nvidia stocks dropped 3% as concerns emerged over potential shifts in AI chip demand.
Source: YAHOO