Wall Street inches higher as Meta earnings offset GDP gloom; Dow up 90 pts

The slump in output reflected a wider trade deficit and moderate pace of inventory accumulation

Wall Street edged higher on Thursday as strong earnings from Meta Platforms lifted battered technology and growth stocks and offset concerns around a contraction in U.S. economic growth in the first quarter. The Facebook-parent rose 12.4% after it reported a stronger-than-expected profit and the social-networking site eked out user growth.
 

Seven of the 11 major S&P 500 sectors advanced in early trading, with technology and communication services leading gains.

Apple Inc, the world's most valuable company, and e-commerce giant Amazon.com Inc gained 1.9% and 2.1%, respectively, ahead of their earnings later in the day.

"The general thesis from earnings so far