Wall Street’s main indexes rose on Thursday, lifted by the Federal Reserve’s signals of a September rate cut and a rosy sales forecast from Meta, although a pullback in chip stocks could keep gains in check. Meta Platforms (META.O), surged 7.9% after its second-quarter revenue beat and upbeat third-quarter sales forecast pointed to the possibility that its artificial intelligence costs would be covered, boosting the Communication Services sector (.SPLRCL), by 2.0%. “It’s very possible that Meta’s spending a little too much on AI, but they think AI is such an important trend, and for the next 15 years it’s going to be the place to be,” […]
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