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Investing.com — U.S. stock markets opened clearly higher on Friday, as impressive results from two big social media names after Thursday’s close reinforced the sense that a consumer-led recovery is still very much intact.
By 9:40 AM ET (1340 GMT), the Dow Jones Industrial Average was up 221 points, or 0.6%, at 35,045 points. The S&P 500 was also up 0.4% and the Nasdaq Composite, which hit a fresh record high on Thursday, added another 0.1%.
The market was lifted by strong results from Snap (NYSE:SNAP), the parent of Snapchat, and Twitter, which gave fresh reassurance that the reopening of the economy was unlocking pent-up animal spirits. Snap stock rose 24% after posting its strongest revenue growth in four years, Since the start of the pandemic, it’s now gone from a low of below $8 to a current price of $78.
