Stock Markets Rally , as Meta Leads , Tech Comeback.<br />On February 2, the S&P 500 jumped to its highest level <br />in five months as better-than-expected results from <br />Meta improved the outlook for technology shares. .<br />NBC reports that a faltering <br />technology sector led <br />the market lower in 2022.<br />The broader market index <br />climbed 1.2% to reach its <br />highest level since last August.<br />The Nasdaq Composite jumped <br />up 3% to reach its highest <br />level since September.<br />Meanwhile, the DOW Jones <br />Industrial Average underperformed, <br />dropping 155 points. .<br />NBC reports that the DOW was dragged down by <br />Merck after the pharmaceutical firm issued a weak <br />outlook with the company's latest earnings results.<br />NBC reports that the DOW was dragged down by <br />Merck after the pharmaceutical firm issued a weak <br />outlook with the company's latest earnings results.<br />In its best day since 2013, Meta leapt up over <br />27% after reporting a fourth-quarter beat on <br />revenue and announcing a huge $40 billion buyback.<br />In its best day since 2013, Meta leapt up over <br />27% after reporting a fourth-quarter beat on <br />revenue and announcing a huge $40 billion buyback.<br />NBC reports that other tech stocks rose on the <br />positive Meta results, with shares of Google parent <br />Alphabet up over 6% and Amazon up more than 7%.<br />NBC reports that other tech stocks rose on the <br />positive Meta results, with shares of Google parent <br />Alphabet up over 6% and Amazon up more than 7%.<br />So far in 2023, the S&P 500 information <br />technology sector is up over 14%, <br />following a decline of over 28% in 2022.<br />It’s showing that growth is outperforming <br />value as it unwinds some of the pressures <br />that hawkish rhetoric brought to risk <br />markets over the course of 2022, Keith Buchanan, senior portfolio manager <br />at GLOBALT Investments, via NBC
