Stocks Rebound From Lows After Fed Hike, and Meta Soars on Earnings 2/1/23

The Nasdaq surged 2% today for its best close since September after the Fed dialed back the pace of its rate cuts. But is the market being too optimistic over the central bank’s direction? Plus shares of Meta surging after the company’s latest earnings report. What’s behind the jump, and can it keep going?