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Wall Street opens higher on Meta surge, Fed relief


Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 27, 2023. REUTERS/Andrew Kelly/File Photo

U.S. stocks jumped on Thursday, with the Nasdaq adding 2% as Meta Platforms surged on rigorous cost controls, while a dovish message from Federal Reserve Chair Jerome Powell boosted bets of a softer landing for the U.S. economy.

The Nasdaq Composite (.IXIC) gained 248.83 points, or 2.11%, to 12,065.15 at the opening bell.

The Dow Jones Industrial Average (.DJI) rose 36.34 points, or 0.11%, at the open to 34,129.30, while the S&P 500 (.SPX) opened higher by 39.47 points, or 0.96%, at 4,158.68.