US stock market today: Wall Street flat; Nasdaq climbs over 1.5% as tech stocks rally

Wall Street rebounded on Thursday with the S&P 500 up 0.9%, Dow gaining 250 points (0.5%), and Nasdaq climbing 1.8%.

Microsoft surged 15.2% after reporting stronger-than-expected quarterly earnings, driven by growth in Azure cloud and AI offerings.

CEO Satya Nadella attributed the performance to increasing adoption of Microsoft's AI offerings; the company did not significantly raise AI spending plans.

Meta Platforms dropped 8.9% after quarterly earnings fell short of forecasts, partly due to raising the lower end of its capital spending range.

US economic data showed slower spring growth than expected, with inflation above the Fed's target but slightly below market expectations.