Josh Schafer

Tesla's surge is putting Big Tech earnings center stage as investors look to megacaps to lift stocks.

· Reporter The US economy grew at a slower pace than expected in the first quarter.

The US economy grew at its slowest pace in nearly two years last quarter as inflation topped Wall Street estimates.

· New data revealed a slowdown in the US economy in the first three months of the year.

Stocks fell on Thursday after a sharply lower-than-expected reading on US GDP for the first quarter ratcheted up questions about the health of the US economy in the face of persistently high interest rates.

Stocks fell on Thursday after a sharply lower-than-expected reading on US GDP for the first quarter ratcheted up questions about the health of the US economy in the face of persistently high interest rates.

The March reading comes as investors have continued to scale back their expectations on when the Federal Reserve will cut interest rates in 2024, if at all.

The latest reading of the Fed's preferred inflation showed prices increased more than Wall Street expected in March.

· Reporter Updated · The latest reading of the Fed's preferred inflation showed prices increased more than Wall Street expected in March.

· Reporter Stocks rebounded as tech earnings spawned a rally in markets despite growing concerns that the Fed will hold interest rates higher for longer.