Microsoft and Meta Platforms drove Wall Street higher after delivering profits for the start of the year that were even bigger than analysts expected.

Instagram and Facebook parent Meta Platforms Inc. posted better-than-expected results Wednesday for the first quarter thanks to strong advertising revenue on its social media platforms

Wall Street's main indexes jumped to around one-month highs on Thursday, with the tech-heavy Nasdaq leading gains, as strong quarterly results from heavyweights Microsoft and Meta pointed to a resilient outlook for the technology sector.

U.S. stock index futures pointed to a lower open on Wednesday as data showed the world's largest economy contracted in the first quarter, amplifying worries about the fallout from President Donald Trump's tariff policies.