NEW YORK (AP) — Wall Street closed higher, led by excitement around tech stocks and a surge for Facebook's parent company, Meta Platforms.

The S&P 500 rose 1.5% Thursday, a day after hitting its highest level since the summer. The Nasdaq composite jumped 3.3%, led by a 23.3% surge in Meta.

The Dow lagged behind because it has less of an emphasis on tech.

Several other tech giants are reporting their results after the closing bell including Apple, Amazon and Google's parent company.

Stocks have already been on the upswing on hopes that the Federal Reserve may soon pause on raising interest rates.