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Key Takeaways

• U.S. equities jumped at midday, as tech stocks rallied following strong earnings reports from Microsoft and Meta Platforms.

• Roblox beat profit and sales estimates and raised its guidance on a gain in bookings and daily active users.

• Becton Dickinson slashed its outlook, warning about the potential impact of Trump administration tariffs.

U.S. equities were higher at midday, boosted by strong earnings from tech companies. The Nasdaq was up nearly 2%, while the S&P 500 added about 1% and the Dow Jones Industrial Average also was higher.

Microsoft (MSFT) shares jumped when the software giant posted better-than-expected results on soaring cloud demand.

Shares of Meta Platform (META) gained after the Facebook and Instagram parent also beat profit and sales estimates on higher ad revenue, and said it would increase spending on artificial intelligence (AI).

Roblox (RBLX) shares climbed when the online gaming and social media platform topped forecasts and lifted its outlook on growth in bookings and daily active users.

Becton Dickinson (BDX) shares slumped when the medical device maker cut its guidance because of the potential impact of new tariffs.

Eli Lilly (LLY) also reduced its outlook on higher research and development costs.

Church & Dwight (CHD) shares dropped after the household products maker missed sales estimates and lowered its outlook on weaker consumer demand and reduced inventory levels at retailers.

Oil futures advanced. Gold prices fell. The yield on the 10-year Treasury note rose. The U.S. dollar gained on the euro, pound, and yen. Most major cryptocurrencies traded higher.

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