Will the S&P 500 Shake-off Rate Hike Fears?
29 8월 2023 - 11:08PM
Finscreener.org
The
S&P 500 and
Nasdaq Composite indices snapped a three-week losing streak as
investors shook off rate hike fears. In the last five trading
sessions, the S&P 500 gained 0.6%, while the Nasdaq
Composite index was up 0.94%.
On Friday, Federal Reserve Chair
Jerome Powell emphasized the importance of remaining vigilant
against persistent inflation and hinted at potential future rate
hikes.
Recognizing the progress achieved
so far, Powell stated the Fed intends to be cautious moving
forward. However, he expressed concerns about current inflation
rates exceeding the comfortable benchmark set by policymakers.
Powell emphasized the FedU+02019s adaptability for further policy
actions but didnU+02019t signal any immediate easing.
“Inflation has receded from its
peak, which is a positive sign, yet itU+02019s still higher than
desired,” Powell commented during his keynote at the Kansas City
Fed’s annual Jackson Hole event in Wyoming. “If necessary,
weU+02019re poised to adjust rates further, aiming for a more
restrictive policy stance until inflation is consistently heading
towards our target.”
Powell’s speech mirrored his
previous yearU+02019s address at the same event, where he pointed
out potential challenges as the Fed aims to achieve its 2%
inflation target.
The markets also surged higher
after semiconductor leader Nvidia reported stellar results in the
quarter ended in July.
Nvidia crushed Wall Street estimates in
Q2
Nvidia (NASDAQ:
NVDA) continues to
benefit from the AI
boom. It increased sales by
100% to $13.5 billion in fiscal Q2 of 2024 (ended in July) while
adjusted earnings surged over 400% to $2.70 per share, easily
crushing Wall Street estimates.
The semiconductor giant expects
revenue to grow by 177% to $16 billion in Q3. It’s evident that the
company’s graphics processing units or GPUs are critical for the AI
players.
Shares
of Nvidia are up 8.6% in pre-market trading, and the stock is up
250% year-to-date
The semiconductor giant expects revenue to grow by 177% to $16
billion in Q3. It’s evident that the company’s graphics processing
units or GPUs are critical for the AI players.
Shares of Nvidia are up 8.6% in pre-market trading, and the
stock is up 250% year-to-date
The semiconductor giant expects revenue to grow by 177% to $16
billion in Q3. It’s evident that the company’s graphics processing
units or GPUs are critical for the AI players.
Shares of Nvidia are up 8.6% in pre-market trading, and the
stock is up 250% year-to-date
NVIDIA (NASDAQ:NVDA)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
NVIDIA (NASDAQ:NVDA)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024