The Globe and Mail reports in its Friday edition that North American stocks rebounded Thursday as investors looked to a spate of high-profile earnings a day after the U.S. Federal Reserve quashed lingering bets that interest-rate cuts could begin as early as March. A Reuters dispatch to The Globe quotes Thomas Martin at Globalt Investments in Atlanta saying: "There's further digestion of the Fed. It's still a growth market and [Wednesday's] sell-off was an overreaction. So today we're getting a rally." Meta shares spiked 14 per cent in extended trading after posting better-than-expected revenue and declaring its first-ever dividend. Amazon also gained in postmarket trading after its earnings release. Apple dipped in extended trading after profit and revenue beat analyst estimates but China sales missed targets. On Wednesday, Fed Chair Jerome Powell called a March rate cut "unlikely," resetting market expectations of a dovish Fed pivot in the first quarter, and prompting a steep sell-off. In Canada, Allied Properties fell 8.9 per cent after it disclosed a $499-million writedown as offices remained sparsely staffed. The S&P/TSX Composite Index closed at 21,119.21, up 97.33. Gold prices rose, but oil prices declined.