The Nasdaq-100 is experiencing a significant rally, largely driven by Microsoft's better-than-expected quarterly earnings announced before the market open. The tech giant's stock surged nearly 10% after reporting accelerated growth in its Azure cloud business, fueled by strong demand for its AI products. This positive news is overshadowing weaker results and guidance from Meta Platforms, and is leading a broader rebound in the technology sector after a sell-off in the previous session.