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Stock market today: Tesla, IBM and Meta lead most of Wall Street higher

By STAN CHOE - Jan 30, 2025, 05:26 PM ET
Last Updated - Jan 30, 2025, 05:26 PM EST
Financial Markets Wall Street
The New York Stock Exchange is seen in New York, Wednesday, Jan. 29, 2025. (AP Photo/Seth Wenig)

Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher following a rush of profit reports from some of the country’s most influential companies

NEW YORK (AP) — Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher on Thursday following a rush of profit reports from some of the country’s most influential companies.

The S&P 500 rose 0.5%, as four out of every five stocks in the index climbed. The Dow Jones Industrial Average added 168 points, or 0.4%, and the Nasdaq composite gained 0.3%.

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Meta Platforms helped push indexes higher after rising 1.6%. The company behind Facebook and Instagram delivered a better profit for the end of 2024 than analysts expected. Perhaps just as importantly for the market, it also talked up its artificial-intelligence efforts and said it will continue to invest in the space.

That calmed some of the worries created by a Chinese upstart, DeepSeek, when it said it developed a large language model capable of competing with the world’s best, without having to use top-flight chips. That raised questions about whether all the investment expected for AI chips, data centers and electricity is really needed and sent a shock through markets at the start of the week.

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