US Stock Market LIVE: Dow Jones up 240 points as Trump threatens sanctions on countries importing Iranian oil

US Stock Market LIVE: Microsoft and Meta Platforms are driving Wall Street higher on Thursday (May 1) after reporting profits for the start of the year that were even bigger than analysts expected. The S&P 500 was up 0.9% in midday trading and heading for an eighth straight gain, which would be its longest winning streak since August.

US Stock Market LIVE: Microsoft and Meta Platforms are driving Wall Street higher on Thursday (May 1) after reporting profits for the start of the year that were even bigger than analysts expected. The S&P 500 was up 0.9% in midday trading and heading for an eighth straight gain, which would be its longest winning streak since August. The Dow Jones Industrial Average was up 205 points, or 0.5%, as of noon Eastern time, and the Nasdaq composite was 1.9% higher. Microsoft jumped 8.6% after the software giant said strength in its cloud computing and artificial intelligence businesses drove its overall revenue up 13% from a year earlier. Meta, the parent company of Facebook and Instagram, also topped analysts’ targets for revenue and profit in the latest quarter. It said AI tools helped boost its advertising revenue, and its stock climbed 4.8%.