One day everything will be different | Wilnesh News

Technology wave
After spending a day digesting the Federal Reserve’s interest rate cut, investors flocked to technology stocks. Thursday, Tesla soared 7.4%, NVIDIA rose 4% and apple up 3.7%. Buoyed by these stocks, Nasdaq It rose 2.5%, the fourth largest one-day gain in 2024.

“Recalibrate”
Fed Chairman Powell’s use of the word “recalibration” seemed to reassure investors that the Fed’s 50 basis point rate cut was not the case Worrying. CNBC’s Jeff Cox writes that this suggests the Fed is not responding to a slowdown, but instead shifting its focus to making sure employment doesn’t fall further.

keep its hand
The Bank of England decided to keep interest rates unchanged at 5%. The decision was almost unanimous: only one in nine members of the Monetary Policy Committee voted in favor of cutting interest rates by a quarter of a percentage point. Market observers expect the Bank of England to cut interest rates at its next meeting in November.

(PRO) Another big cut?
Some experts believe the Fed will lower interest rates by 25 percentage points at its September meeting. That call was wrong. one JPMorgan Chase economist A half-percentage point decision was made – he expected another big rate cut in November.

“Twenty-four hours / bring sunshine and flowers / where it once rained,” sang Dinah Washington, an American star of the 1950s.

But twenty-four hours later, the major indexes rebounded to close at record highs after investors assessed that a half-percentage-point rate cut might not signal the start of a recession.

this Standard & Poor’s It rose 1.7% to close at 5,713.64 points. This was the first time that the composite index exceeded the upper limit of 5,700 points. same, Dow Chemical It closed at 42,025.19 points, breaking through 42,000 points for the first time. The index previously rose by 1.26%.

this Nasdaqsubject to such Tesla, NVIDIA and applewas the biggest gainer among the major indexes, soaring 2.51%, the fourth-highest single-day gain this year.

While history shows September is bad for stocks, it also tells us that the fourth quarter is likely to remain strong when the S&P hits a record high this month. Oppenheimer noted that this pattern has occurred 20 out of 22 times since 1950.

In fact, BMO is so bullish on the market that the bank raised its year-end target. Standard & Poor’s to 6,100 – up 8.6% from Wednesday’s close – which was Wall Street’s top forecast.

“As with our last target increase in May, we remain surprised by the strength of the market’s rally and are again surprised,” chief investment strategist Brian Belski wrote in a note to clients Thursday. It was decided that measures other than incremental adjustments were necessary.

At the end of Washington’s song, she murmurs: “What a difference a day makes/And that change is you.” Powell might have felt like Washington was serenading him.

–CNBC’s Alex Harring, Fred Imbert, Hakyung Kim and Lisa Kailai Han contributed to this article.

Correction: An earlier version of this report did not indicate the time frame for the Nasdaq’s best performance. It has been added to this report.