And with Microsoft shares up by 9% and Meta gaining 11% before the open, the S&P 500 would have a hard time being anything but up today. In fact, that index is gaining nearly 1% in premarket futures trading. The Nasdaq, of which both Microsoft and Meta are also members, is up more than 1%.

The S&P 500 closed slightly lower Thursday after briefly hitting a new intraday high, as strong earnings from Microsoft and Meta Platforms failed to offset broader market weakness. At 3:08 p.m. ET, the Dow Jones Industrial Average dropped 330 points,