Investor sentiment faded on Friday as a key inflation gauge closely watched by the Federal Reserve climbed to a five-month-high, casting fresh uncertainty over the timing of potential interest rate cuts.
Alibaba shares surged over 10% in Friday’s midday trade after the company was reported to be developing a new AI chip to fill the void left by Nvidia due to regulatory hurdles.
According to a CNBC report, the Federal Reserve did not take a side in the dispute between President Donald Trump and Fed Governor Lisa Cook, but requested the court for a “prompt ruling.”
Federal Reserve Governor Christopher Waller said late Thursday that the central bank should cut the Fed funds rate now, but suggested that he would rely on incoming data to decide the pace and magnitude of future rate reductions.
The U.S. stock market is in the midst of an unprecedented rally, with the benchmark S&P 500, tech-heavy Nasdaq Composite, and industrial-focused Dow Jones Industrial Average all consistently achieving fresh record highs. This broad-based ascent signals robust investor confidence, yet the underlying dynamics reveal a significant transformation: a
Wall Street traded cautiously on Wednesday, with major indices little changed at midday as investors awaited NVIDIA Corp.‘s (NASDAQ:NVDA) second-quarter earnings after the bell.
Investors are watching small caps heat up on an otherwise slow Tuesday morning, with the Russell 2000 climbing 1% and outpacing its larger peers, amid growing bets on a Fed rate cut next month.
