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Jersey Mike's Subs' chairman of the board of directors Peter Cancro, left, and Eli Manning, right, pose with a ceremonial bell before the planned IPO of Jersey Mike's Subs on the floor of the New York Stock Exchange, Thursday, July 30, 2026, in New York.

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Microsoft's best day since 2008 leads US stocks, while inflation worries remain in the bond market

Microsoft's best day since 2008 leads US stocks, while inflation worries remain in the bond market

A monster day for Microsoft following signals that its big spending on AI is translating into profits led a powerful rebound on Wall Street, while AI stocks regained some of their sharp recent losses. The S&P 500 rallied 1.7% Thursday and more than recovered its drop from the prior day. The Dow Jones Industrial Average rose 1.2%, and the Nasdaq composite jumped 2.8%. Microsoft delivered a bigger profit than analysts expected, which helped offset Meta Platforms's drop after it raised its forecast for AI investments. Longer-term Treasury yields held relatively steady a day after soaring on worries about inflation. Oil prices eased.