Friday, 10 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > Stocks Get Tech Boost as Nvidia Keeps Rallying: Markets Wrap
Economy

Stocks Get Tech Boost as Nvidia Keeps Rallying: Markets Wrap

Last updated: October 8, 2024 7:33 am
Share
Stocks Get Tech Boost as Nvidia Keeps Rallying: Markets Wrap
SHARE

Stocks surged today as the world’s largest technology companies experienced a rebound, lifting investor sentiment. Traders were also closely following the latest comments from Federal Reserve officials to gain insights into the central bank’s future actions.

The S&P 500 bounced back after its recent downturn, with chipmaker Nvidia Corp. leading the gains with a five-day rally of 11%. However, US-listed Chinese stocks faced selling pressure as Beijing refrained from implementing significant stimulus measures, disappointing traders who were hoping for additional support to sustain the ongoing stock market rally. Meanwhile, Treasuries showed minimal movement following a recent sell-off, with shorter maturities performing better than long-term bonds.

Federal Reserve Governor Adriana Kugler emphasized the importance of the central bank’s commitment to returning inflation to its 2% target. She advocated for a balanced approach that avoids hindering employment growth and economic expansion. The Fed had previously cut its benchmark rate by half a point, a larger-than-expected move aimed at safeguarding a robust labor market.

Mark Haefele, from UBS Global Wealth Management, remarked, “While stronger US jobs data and a positive ISM Services release support our belief in a soft landing, the data is not strong enough to suggest that the Federal Reserve’s role in the global rate-cutting cycle is coming to an end. Therefore, we continue to advise investors to position themselves for lower rates.”

The S&P 500 climbed to approximately 5,725, and a Bloomberg index tracking the top technology giants surged by 1.1%. The yield on 10-year Treasuries rose by three basis points to 4.05%, while West Texas Intermediate crude oil declined by 3.6% to $74.34 per barrel.

See also  Texas woman wants to ‘financially exit’ 20-year marriage — but Ramsey Show hosts immediately see huge red flag

In corporate news, Hindenburg Research announced its short position on Roblox Corp., Honeywell International Inc. revealed plans to spin off its advanced materials division, and PepsiCo Inc. adjusted its revenue outlook downward due to various challenges impacting its food and beverage volumes. Additionally, KeyBanc Capital Markets downgraded Qualcomm Inc., and e-signature company DocuSign Inc. is set to join the S&P Midcap 400 Index next month. Ares Management Corp. also confirmed its acquisition of GLP Capital Partners Ltd.’s operations outside of China for up to $5.2 billion.

Looking ahead, key events this week include the release of the Fed minutes, speeches by several Fed officials, US initial jobless claims and CPI data, as well as the beginning of earnings season for major Wall Street banks.

Overall market movements today included a 0.5% increase in the S&P 500, a 0.8% rise in the Nasdaq 100, and a mixed performance for the Dow Jones Industrial Average. In currency markets, the Bloomberg Dollar Spot Index remained stable, while the British pound strengthened against the US dollar. Bitcoin experienced a slight decline, while Ether remained steady. Bond yields saw minor fluctuations, with the yield on 10-year Treasuries edging up to 4.05%. Commodity prices were also in flux, with WTI crude oil dropping to $74.34 per barrel and spot gold slipping to $2,639.13 per ounce.

This summary was generated using Bloomberg Automation and is subject to copyright protection by Bloomberg L.P.

TAGGED:boostMarketsNvidiaRallyingstocksTechWrap
Share This Article
Twitter Email Copy Link Print
Previous Article These  Abercrombie & Fitch Jeans Feel Like They Cost More These $90 Abercrombie & Fitch Jeans Feel Like They Cost More
Next Article Bill Maher Spotted Sneaking Out of Chateau Marmont With Al Pacino’s GF Bill Maher Spotted Sneaking Out of Chateau Marmont With Al Pacino’s GF
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Facebook Marketplace deal ended with carjacking, prosecutors say – CWB Chicago

A 26-year-old man from Ashton, Illinois, has been arrested on charges of vehicular hijacking after…

September 28, 2025

Google Pixel 10 Pro Fold and Pixel Watch 4 Delay Tipped

Google is facing production issues with its upcoming smart devices, leading to potential delays for…

August 5, 2025

July 10, the Battle of Britain begins in World War II

Thursday, July 10, 2024 Today is Thursday, July 10, the 191st day of 2024. There…

July 10, 2025

Dem Adelita Grijalva secures late father’s congressional seat as GOP House majority shrinks

Democrat Adelita Grijalva has emerged victorious in a special election in Arizona's contested political landscape,…

September 24, 2025

Williamson ton seals NZ chase against SA

In a thrilling Tri-Nations match in Lahore, Centurion Kane Williamson and Devon Conway showcased their…

February 10, 2025

You Might Also Like

This Analyst Just Hiked Their UnitedHealth Stock Price Target by 50%. Should You Buy UNH Now?
Economy

This Analyst Just Hiked Their UnitedHealth Stock Price Target by 50%. Should You Buy UNH Now?

October 10, 2025
Why Is Wolfspeed Stock Soaring Today?
Economy

Why Is Wolfspeed Stock Soaring Today?

October 10, 2025
When Godzilla Breaks Windows
Economy

When Godzilla Breaks Windows

October 10, 2025
Peter Schiff Describes Bitcoin’s Jump Over 6,000 As ‘Bear Market Rally’: ‘Too Early For Bitcoiners To Get Excited…’
Economy

Peter Schiff Describes Bitcoin’s Jump Over $126,000 As ‘Bear Market Rally’: ‘Too Early For Bitcoiners To Get Excited…’

October 10, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?