US equity indexes advanced after midday Thursday following strong earnings by Microsoft and Metal Platforms along with speculation on easing trade tensions between China and the US.
The Nasdaq Composite jumped 2% to 17,789.2, the S&P 500 gained 0.8% to 5,615.2 and the Dow Jones Industrial Average climbed 0.5% to 40,873.5. Technology, communication services and consumer discretionary led the gainers, and health care paced the decliners.
In company news, Meta (META) shares rose 4.8%. The company's Q1 earnings and revenue climbed more than Wall Street expected. Several analysts raised their price targets on the stock.
Microsoft (MSFT) shares surged 8.8%. The company's fiscal Q3 earnings and sales rose more than analysts expected, partly on demand for cloud products.
Apple (AAPL) and Amazon.com's (AMZN) results are due after market closes.
Media reports cited the state-run China Central Television as saying that the US has been proactively reaching out to the Asian country through various channels, seeking to negotiate tariff issues.
Most US Treasury yields rose with the 10-year up 5.4 basis points to 4.23% and the two-year rate 4.7 basis points higher at 3.67%.
In economic news, the Institute for Supply Management's US manufacturing index fell to 48.7 in April from 49.0 in March, compared with expectations of 47.9 in a survey compiled by Bloomberg.
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