This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

What you need to know today

Wall Street rallies
Wall Street closed on a positive note Thursday. The major indexes clawed back gains from the previous session, which saw a brutal sell-off after the Federal Reserve signaled that a March rate cut is unlikely. The 30-stock Dow closed higher on a fresh record, which also wiped its losses from a day earlier. The S&P 500 added 1.25% and the tech-heavy Nasdaq also gained.

Meta soars
Facebook parent Meta shares surged on better-than-expected results and a first-ever dividend payment. The results showed the company's online ad business continues to rebound from a brutal 2022. Part of Meta's financial recovery was also driven by Chinese retailers.

Apple's China woes
Apple reported fiscal first-quarter earnings that beat estimates for revenue and earnings. But it posted a 13% decline in sales in China, one of its key markets, which led to a slide in its stock in after-hours trading. Apple's outlook also suggested weak iPhone sales.  

Amazon bullish
Amazon gave optimistic guidance for the first quarter as the company reported fourth-quarter results that easily topped estimates. Sales at Amazon Web Services was up 13% in the fourth quarter, in line with Wall Street's forecast. The stock spiked 7% in extended trading.

[Pro] Ford rides to the top
Morgan Stanley's analyst Adam Jonas has named Ford as the investment bank's top pick among U.S. automakers. He added cutting back spending plans for electric vehicles could actually help Ford to impress Wall Street investors.   

The bottom line

It was a wild day of earnings for Big Tech companies. 

Three "Magnificent 7" results hogged the headlines: Meta, Amazon and Apple. 

Wall Street seemed particularly impressed with Facebook parent Meta's results.

Shares of Meta surged 15% after the social-media giant defied analysts' estimates. It posted better-than-expected fourth-quarter earnings of $5.33 per share on revenue of $40.11 billion. The company also declared its first-ever dividend payment, pegged at 50 cents.

Investors also cheered Amazon's earnings, which easily topped Wall Street's expectations. The ecommerce giant also provided a strong outlook for the current quarter. The stock jumped 7% in extended trading.

"This Q4 was a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon," CEO Andy Jassy said in a statement. "As we enter 2024, our teams are delivering at a rapid clip, and we have a lot in front of us to be excited about."

But Apple didn't get the same treatment despite posting stellar results.

It also exceeded estimates, reporting revenue growth for the first time in a year. But shares of the tech titan slid more than 2% in extending trading after it posted a 13% decline in sales in China. Apple's outlook suggesting weak iPhones sales may have also disappointed investors.

Well, this wraps up earnings season for tech's mega cap companies.

Investor's focus will shift to another data point on Friday with the release of January's U.S. jobs report, for clues on the strength of the labor market and the broader economy.  

 — CNBC's Jonathan Vanian contributed to this report.