Chip stocks bolster Nasdaq, S&P 500 before Fed verdict
were poised to open sharply higher on Wednesday after a bullish forecast from AMD boosted struggling chip stocks, while Microsoft soared 7.5% in premarket trading after it lifted its 2024 forecast for AI-chip sales, raising other chip stocks. Nvidia (NASDAQ:
"AMD's results pleased investors more than Microsoft's disappointed, and as a result people are adding to positions in the semiconductor space," said Sam Stovall, chief investment strategist at CFRA Research. Quarterly earnings from tech giants Tesla, Microsoft and Alphabet have so far disappointed investors, who are questioning if the AI-driven rally has run out of steam.
With traders fully pricing in a cut by September, according to CME's FedWatch, the fear is that any disappointment on this front could amplify the recent equity selloff.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500, Nasdaq post record closes Friday as jobs report raises Fed rate cut hopesPia Singh is an associate reporter covering markets and investing trends for CNBC.com and CNBC Pro. She previously reported for The Wall Street Journal. Pia is a graduate of the University of Pennsylvania, where she was the Executive Editor of The Daily Pennsylvanian.
Read more »
Stock futures rise after S&P 500, Nasdaq post worst day since 2022: Live updatesWednesday’s trading session saw intense declines across major U.S. stock indexes that were driven by disappointing reports from a couple megacap tech…
Read more »
Stock futures rise after S&P 500, Nasdaq post worst day since 2022: Live updatesWednesday's trading session saw intense declines across major U.S. stock indexes that were driven by disappointing reports from a couple megacap tech names.
Read more »
Stock futures edge higher after S&P 500, Nasdaq close at fresh records: Live updatesThe broad market continued to advance as easing pricing pressures have investors optimistic the Federal Reserve can soon start to lower interest rates.
Read more »
Stock futures are little changed after S&P 500, Nasdaq close at fresh records: Live updatesThe broad market continued to advance as easing pricing pressures have investors optimistic the Federal Reserve can soon start to lower interest rates.
Read more »
Stock futures are little changed after S&P 500, Nasdaq close at fresh records: Live updatesThe broad market continued to advance as easing pricing pressures have investors optimistic the Federal Reserve can soon start to lower interest rates.
Read more »