Stock market today: Dow, S&P 500, Nasdaq hit records as rate-cut relief, Nvidia's Intel bet lift markets
- US Stocks Hit Record Highs: The Federal Reserve resumed rate cuts and signaled more to come, pushing major indexes to new records.
- Index Performance:
- Nasdaq rose about 0.9%
- S&P 500 gained 0.5%
- Dow Jones Industrial Average added 0.3%
- Small-cap Russell 2000 climbed over 2% to an all-time high
- Intel Stock Surge: Intel shares jumped 23% after Nvidia announced a $5 billion investment in the struggling chipmaker.
- Federal Reserve Policy:
- Cut interest rates by 0.25 percentage point on Wednesday
- ”Dot plot” indicates two more cuts likely in 2025
- Powell warned high inflation and weak labor market mean there’s “no risk-free path”
- US Labor Market Data:
- Weekly jobless claims dropped after a sharp rise the previous week
- Hiring has nearly stalled as worker demand and supply slow
- Corporate Focus:
- FedEx to report quarterly earnings after the bell
- Analysts expect profit to be hit by Trump’s removal of the “de minimis” tariff exemption for low-value packages from China and Hong Kong
- International & Political Developments:
- Trump on a state visit to the UK, dining with tech and finance leaders at Windsor Castle
- Investors eye Friday’s call between Trump and Chinese President Xi Jinping
- Trump said a TikTok deal is nearly finalized and hopes to make progress on broader tariff issues
From :
Comments
Post a Comment