Reported 6 months ago
Stocks rose on Monday, with the Nasdaq and S&P 500 gaining 0.8% and 0.4%, respectively, driven by hopes for rate cuts and a surge in Nvidia shares following an AI chip update. GameStop's shares skyrocketed over 100% after Reddit posts by influential trader Keith Gill, fueling speculation of a return to a meme rally. Overall, stocks are set to continue their strong performance from May, with optimism fueled by positive PCE data suggesting inflation may have peaked, while traders anticipate the impact of upcoming labor reports on the Fed's rate path.
Source: YAHOO