Reported 4 months ago
The S&P 500 and Nasdaq Composite closed at record highs, with the Nasdaq up nearly 2% and the S&P 500 rising about 1.2%, driven by a surge in Big Tech, particularly Nvidia, whose market cap surpassed $3 trillion. The tech rally coincided with optimism for interest rate cuts due to signs of slowing labor demand. Amidst a decline in Treasury yields, traders are increasingly expecting a rate cut at the September meeting. The broader focus remains on Friday's key monthly jobs report while the tech sector continues to rally on positive earnings.
Source: YAHOO