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May 2, 2025 5:39 PM

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Wall Street Gains as Microsoft, Meta Post Strong Results Despite Rise in Jobless Claims

US stocks advanced on Thursday after strong results from megacaps Microsoft and Meta. The Nasdaq Composite gained over one and half percent, the S&P 500 rose over 0.6 percent and the Dow Jones Industrial Average added 0.21 percent. Meanwhile, the Labour Department data showed initial claims for state unemployment benefits jumped 18,000 to a seasonally adjusted 241,000 for the week ended April 26.