Nasdaq 100 Surges 3.4% as US Core PCE Cools and Microsoft Stock Jumps 15%

US core PCE data and Microsoft earnings drive Nasdaq 100 up 3.4%. Microsoft gains 15%, while Apple stock drops 4% post-earnings despite revenue beat.

Woofun AI reports that the S&P 500 rose 1.66% and the Nasdaq 100 climbed 3.4%, marking the third-largest daily gain of the year, driven by cooling US Q2 core PCE inflation and strong Microsoft results. Microsoft shares surged over 15%, achieving the largest single-day market cap increase in Wall Street history, while AI-related stocks including NBIS and IREN rose over 27% and 30% respectively.

Meanwhile, Apple reported Q3 revenue of $1.0942 trillion, a 16% year-on-year increase, and EPS of $2.02, up 29% year-on-year. Despite record operating cash flow, Apple’s stock fell 1.4% during regular trading and dropped over 4% in after-hours trading. In currency markets, the Japanese yen surged more than 3% amid reported intervention, while the US dollar index fell over 0.9%.