Markets surge on positive earnings from tech firms and Fed move to hold rates

Dow climbs 1.8% and S&P 500 rises 1.6% amid relief over Microsoft and Facebook results, while Tesla earnings miss expectations

Wall Street breathed a sigh of relief after Microsoft and Facebook reported positive earnings on Wednesday, while the Federal Reserve’s decision to keep US interest rates the same added to optimism that a slowdown in the global economy may not be as sharp as economists have feared.

While the market reacted positively, Microsoft’s results initially disappointed investors, with revenue coming in at $32.47bn, slightly lower than the $32.51bn expected by analysts, causing shares in the Seattle giant to fall 3%.

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from US news | The Guardian http://bit.ly/2Gdhaqw