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Live Nasdaq Composite: NVDA, TSLA Lift Markets Higher on Fed Day
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Key Points
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The markets are saving face, with all three of the major stock market indices trading higher out of the gate.
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Tesla is retaking some lost ground and is leading the markets higher.
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Nvidia is also advancing after CEO Jensen Huang’s bullish AI-focused keynote speech.
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Markets Widen Lead After Fed Holds Rates Steady
The markets remain in a good mood after the Federal Reserve revealed it would keep interest rates on hold for now. All three of the major stock market indices remain in the green and in fact have widened their lead a bit in a display of either relief or confidence, whichever one it is remains to be seen.
Also buoying stocks is the Fed’s tone, which makes room for two interest rate cuts in 2025. While this pace is down from a previous expectation for four, it’s much better than none, with the borrowing rate guide continuing to hover between 4.25% and 4.5% for now. Besides, the markets have already priced in the Fed’s updated path.
Nvidia (Nasdaq: NVDA) stock is rising 2.7% on the day after CEO Jensen Huang suggested he isn’t losing any sleep over the tariff issue as the impact won’t be material in the short term.
Build-a-Bear-Workshop (NYSE: BBW) is getting some buzz after the company increased its dividend payout by 10% to $0.22 per share in recent days.
Here’s an update on where the major stock market averages are following the Fed’s remarks:
Dow Jones Industrial Average: Up 242.15 (+0.58%)
Nasdaq Composite: Up 206.78 (+1.1%)
S&P 500: Up 44.01 (+0.81%)
We’ll check back in later to see if the markets were able to make it over the finish line in the green.
Markets Show Optimism
On this closely watched Fed day, stocks are holding their own. The three major stock market indices are widening their earlier gains as traders and investors show optimism that the Federal Reserve will do the right thing, which for now appears to be hold interest rates steady. Boeing (NYSE: BA), Tesla (Nasdaq: TSLA) and Nvidia (Nasdaq: NVDA) are top gainers.
Here’s a roundup of where the stock market averages are trading:
Dow Jones Industrial Average: Up 246.95 (+0.59%)
Nasdaq Composite: Up 148.07 (+0.86%)
S&P 500: Up 37.21 (+0.66%)
The markets are saving face after yesterday’s beatdown and ahead of the Fed’s interest rate decision this afternoon. All three of the major stock market indices opened higher in a display of solidarity. While the markets have seemingly priced in rates staying the same, they will also be keenly focused on the tone of Fed Chairman Jerome Powell’s commentary after signs that inflation is being reined in. Bank of America CEO Brian Moynihan reportedly believes the economy is humming along just fine and that the Fed should hold rates steady.
Big Tech stocks are retaking lost ground, including battered Tesla (Nasdaq: TSLA), which is up about 3% in early morning trading, and Nvidia (Nasdaq: NVDA) on the heels of popular CEO Jensen Huang’s AI- and robot-focused innovation update. Apple (Nasdaq: AAPL) is adding to the positive sentiment, helping to fuel market gains.
The Dow’s rebound is being led by Boeing (NYSE: BA) 5.7% gain, which is also lifting the S&P 500. Boeing’s finance chief made some positive comments at an investor event, giving investors reason to be optimistic about the balance sheet. Technology and consumer discretionary are the sectors leading the markets higher, with energy and financials also gaining.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 189.65 (+0.46%)
Nasdaq Composite: Up 186.43 (+1.05%)
S&P 500: Up 39.57 (+0.70%)
Market Movers
Autodesk (Nasdaq: ADSK) is rising 4%.
Super Micro Computer (Nasdaq: SMCI) is also among today’s gainers, adding 4% in a volatile week for the stock.
Intel (Nasdaq: INTC) is a drag, falling 5% as investors take profits on the heels of the company’s recent rally.
JPMorgan is bullish on some technology stocks, including Meta Platforms (Nasdaq: META) and streaming company Spotify. The analyst reiterated an “overweight” rating on Meta stock with a $727 price target, suggesting the stock has runway for 25% gains. Spotify is looking attractive amid additional paid subscription tiers and an expansion into non-music content, per the analyst.
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