Reported 4 months ago
US stocks soared as traders reacted positively to expectations of Fed rate cuts, with the S&P 500 and Nasdaq Composite closing at all-time highs. Nvidia's sharp rise also contributed to this, making it the world's second most valuable company, behind Microsoft. The market optimism was fueled by a cooling labor market and solid economic data, prompting investors to anticipate Fed actions to stimulate the economy. The upcoming focus is on the May nonfarm payroll report release by the Bureau of Labor Statistics.
Source: YAHOO