S&P and Nasdaq Up, Intel Soars
Stocks in the US were mostly higher on Thursday, with the S&P 500 rising 0.5% and the Nasdaq adding 0.8% while the Dow Jones traded around the flatline as traders digested the Fed’s first interest rate cut of the year and better-than-expected jobless claims. The Fed signaled an additional 50bps of cuts this year, followed by another 25bps reduction in 2026. Volatility followed the decision and Chair Powell’s press conference, where he framed the move as a “risk management” cut and cautioned that there are no risk-free paths. Meanwhile, initial jobless claims fell much more than expected to 231K from a 4-year high, easing some concerns about the labour market weakness. On the corporate front, Nvidia shares jumped more than 2% while Intel soared nearly 24% after announcing that Nvidia will invest $5 billion for a minority stake in the company. Meta (0.7%)(ads)
Source: Trading Economics
