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Nasdaq Notches Record High Close, Traders Look to Fed Meeting
Investors expect a 25 basis point Federal Reserve rate cut next week amid slowing job growth and easing inflation, boosting Nasdaq tech stocks to record highs.
- The Nasdaq Composite reached a record high close on Friday, September 12, reflecting strong gains in technology stocks and broader market optimism.
- This rally came as investors anticipated the Federal Reserve would lower interest rates by a quarter of a percentage point during its meeting on Tuesday and Wednesday.
- Investors showed confidence in companies like Microsoft, Amazon, Tesla, and Gilead Sciences, with Tesla jumping 4.5% after reporting stronger deliveries in China.
- Sam Stovall of CFRA Research noted that no significant economic data is expected until Wednesday, reflecting a cautious market stance following softer employment figures and diminishing inflation pressures.
- The market’s ongoing strength relies on favorable economic indicators and a cautious stance from the Federal Reserve, while it remains uncertain if this optimism will persist over time.
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14 Articles
14 Articles
Nasdaq Hits Record High as Tech Stocks Surge on Rate Cut Hopes
The Nasdaq Composite closed at a record high on August 8, finishing near 21,450, as investors piled into tech stocks on growing expectations of Federal Reserve interest rate cuts. Optimism over an earlier-than-expected shift in monetary policy fueled broad gains,…
A wave of liquidations led to negative territory for the Dow and S&P 500, but without radically changing the good climate, as investors are betting on a restart of monetary easing by the Fed next week.
Wall Street stock indexes advanced last week, largely because investors expect the Federal Reserve (Fed) to cut its key interest rate next week. Friday's trading was very calm.
Coverage Details
Total News Sources14
Leaning Left0Leaning Right3Center2Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
C 40%
R 60%
Factuality
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