News Formal

Stock market news today: Stocks rally after Fed decision, Nvidia surges

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 24 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 63%

Nasdaq Composite News

Federal Reserve,Earnings Reports,Jerome Powell

A tech revival is helping lift stocks, as investors digest the Federal Reserve's decision to hold interest rates steady.

US stocks rallied on Wednesday as investors digested the Federal Reserve's latest decision to hold interest rates steady and a tech revival sent the Nasdaq surging. The S&P 500 rose by 1.4% while the tech-heavy Nasdaq Composite soared more than 2.2%. The Dow Jones Industrial Average rose a more modest 0.6%. Stocks maintained their gains for the day after the widely anticipated decision from the Fed.

Nvidia climbed over 11%, regaining ground lost in a steep drop on Tuesday in the halo of the results. Also on Wednesday, Morgan Stanley noted that the recent 25% drawdown in Nvidia stock presented a "good entry point," marking a sentiment shift in what's been an otherwise tough July for the AI leader. Elsewhere, Dutch chip gear giant ASML's stock surged about 6% after Reuters reported the US will exempt some foreign allies from new China curbs.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news today: Stocks rally before Fed decision as Nvidia surgesA tech revival is helping lift stocks, with the Federal Reserve's rate decision on deck.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: Stocks rally before Fed as Nvidia surges 7%A tech revival is helping lift stocks, with the Federal Reserve's rate decision on deck.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks fall from records as Tesla, Nvidia lead tech sell-offJerome Powell steps up for part two of his policy update to Congress, with investors on the alert for more clues to rate-cut prospects.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: Stocks waver in wait for key earnings, Fed meeting kickoffA packed day of earnings and the start of the Fed's July meeting continue a potentially pivotal week for stocks.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: US stocks set for rebound after key Fed-watched inflation dataInvestors are looking to the Fed-favored inflation data to calibrate the timing and depth of rate cuts.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: Nasdaq sinks, Nvidia drops 7% ahead of Big Tech earningsA packed day of earnings and the start of the Fed's July meeting continue a potentially pivotal week for stocks.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »