Summary of Tesla, Nvidia lead tech-heavy Nasdaq to one of best days of 2024 after Fed rate cut
Summary of Tesla, Nvidia lead tech-heavy Nasdaq to one of best days of 2024 after Fed rate cut
Nvidia's stock gains 4% as investors pour into tech stocks after the Federal Reserve cuts interest rates, pushing the Nasdaq to its highest level since mid-July. The tech-heavy index rose 2.5% on Thursday, led by a 7.4% gain in shares of Tesla and a 4% jump in Nvidia. Lower interest rates tend to benefit tech stocks, making risky bets more attractive. Nvidia's processors are powering the generative AI boom and services like OpenAI's ChatGPT, and the company counts on a relatively small group of customers for an outsized amount of revenue.
quoting nevent1q…du6yTesla, Nvidia lead tech-heavy Nasdaq to one of best days of 2024 after Fed rate cut
Following the Federal Reserve's interest rate cut, tech stocks had a slightly delayed rally but jumped on Thursday, with the Nasdaq climbing 2.5%.
https://www.cnbc.com/2024/09/19/tesla-nvidia-lead-tech-stocks-to-one-of-best-day-of-2024-on-rate-cut.html
Nvidia's stock gains 4% as investors pour into tech stocks after the Federal Reserve cuts interest rates, pushing the Nasdaq to its highest level since mid-July. The tech-heavy index rose 2.5% on Thursday, led by a 7.4% gain in shares of Tesla and a 4% jump in Nvidia. Lower interest rates tend to benefit tech stocks, making risky bets more attractive. Nvidia's processors are powering the generative AI boom and services like OpenAI's ChatGPT, and the company counts on a relatively small group of customers for an outsized amount of revenue.