The Dow Jones index jumped more than 400 points on Wednesday after Release of Fed meeting minutes on September 17 and 18 Show how officials agreed to cut the interest rate by half a point. Although divided on the economic outlook and uncertain about how aggressive it will be, the Fed settled for a 50 basis point cut — its first in more than four years.
Investors are now focusing on… Next week’s inflation reportwhich is expected to provide further insight into the direction of the economy.
By late afternoon, the Dow Jones Industrial Average jumped 410 points, or 1.08%. The tech-heavy Nasdaq and S&P 500 rose 0.5% and 0.7%, respectively. Oil prices also fell, pushing global benchmark Brent crude closer to $72 a barrel.
Alphabet shares decline after Justice Department filing
Google’s parent company Alphabet (Gog) Shares fell more than 2% as The Justice Department could consider breaking up Google After a federal judge ruled in August that the tech giant It monopolized the Internet search engine market.
To address Google’s monopoly, the Justice Department said in a statement File a lawsuit Tuesday it will find remedies that will prevent and restrict any present and future maintenance of the company’s dominance in the search market.
Nvidia’s market cap exceeds Microsoft’s – again
Nvidia shares (NVDA) It seems that To return to its highest closing level since June. The artificial intelligence chip maker’s stock rose nearly 1% at Wednesday’s open. The rise in Nvidia shares has pushed its market value beyond that of Microsoft (MSFT) once again.
During Wednesday morning trading, the chip maker’s market value reached $3.26 trillion, while Microsoft’s market value reached $3.09 trillion. Both lag behind Apple (Apple) Market capitalization of $3.44 trillion. In June, Nvidia briefly surpassed Apple in total market cap It crossed the $3 trillion threshold for the first time. Just weeks later, it happened It outperformed both Apple and Microsoft To become at that time the most valuable public company in the world.
Boeing shares fall as strike continues
boeing (Bachelor’s-2.41%) withdrew its latest offer to the Mechanics Union on Tuesday after negotiations failed The strike enters its fourth week. The Arlington, Va.-based company’s offer — which it described as its “best and final proposal” — included a 30% pay increase for the plant’s 33,000 workers who had been on the picket line since Sept. 13 after they rejected an initial labor deal.
—Rocio Fabbro, William Gavin and Brittney Nguyen contributed to this article.