Stock market today: Fed cuts rates, Nasdaq surges as Nvidia and Amazon lead tech rally
Published On Nov 7, 2024, 2:20 PM
The Federal Reserve has announced a cut in interest rates, leading to a notable surge in the Nasdaq Index. Tech giants Nvidia and Amazon were highlighted as key contributors to this rally, contributing to investor optimism about the tech sector's growth potential.
Stock Forecasts
NVDA
Positive
With the Fed's rate cut improving liquidity and encouraging investment, stocks like Nvidia and Amazon are likely to see continued upward momentum as investors seek growth in the tech industry. The strong performance of these companies in a favorable economic environment supports a positive outlook for their stock prices.
AMZN
Positive
Amazon's ongoing expansion in e-commerce and cloud services, along with favorable economic conditions after the Fed's rate decision, suggests that the company will maintain its growth trajectory, positively influencing its stock performance.
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