Nasdaq has outperformed the broader indices thanks to mega-cap tech stocks that have possibly gained due to the growing AI chatter, better-than-expected earnings, and the belief that the Fed may soon start winding down its rate hiking program.
In the days ahead, the United States is set to release its latest CPI data, while China will publish inflation figures and the Bank of England will reveal its interest rate decision.
The Federal Open Market Committee’s third summit of the year reached its conclusion yesterday followed by a press conference by Fed Chair, Powell. The decision could provide valuable insight into the state of the world’s biggest economy.
Wednesday’s trading saw big jumps in the share values of key tech firms, from Micron to Apple and Microsoft, pushing the markets to a bullish rally.
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