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FILE - People pass the New York Stock Exchange on May 28, 2024, in New York.

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Wall Street recovers more than half of the prior's day loss as Microsoft and chip stocks rally

Wall Street recovers more than half of the prior's day loss as Microsoft and chip stocks rally

U.S. stocks are bouncing back after Microsoft leaped on its latest profit report and computer-chip companies clawed back some of their big recent losses. The S&P 500 rose 0.9% Thursday and recovered more than half its drop from the prior day, which was its worst in seven weeks. The Dow Jones Industrial Average added 250 points, and the Nasdaq composite jumped 1.8%. Microsoft delivered bigger profit than expected and suggested that its big investments in AI may pay off. That offset a drop for Meta Platforms, which raised its forecast for AI investments. Oil prices eased.