Stock Market Today: Nasdaq Skyrockets After Meta Earnings, Buyback News

The Dow, on the other hand, closed lower on disappointing guidance from Merck (MRK).

Meta logo on sign outside of headquarters
(Image credit: Getty Images)

Most stocks jumped out of the gate Thursday, as optimism spilled over from Wednesday's Fed meeting, where the central bank issued its smallest interest rate hike since March 2022. 

Solid guidance and big buyback news from Facebook parent Meta Platforms (META) – not to mention one of the best days ever for its stock – gave the risk-on rally some legs. The buying power wasn't widespread, though, as an earnings-induced selloff in drugmaker Merck (MRK) kept the blue-chip Dow Jones Industrial Average in check. 

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.