FEDWATCHįed officials on Thursday were noncommittal about the size of the interest rate increase they plan to approve at their Sept. Traders see a slightly greater likelihood of a third 75-basis-point interest hike from the Fed at its policy meeting next month, compared with a 50-basis-point increase.
economy contracted less than initially thought in the second quarter, dispelling some fears that a recession was underway. 10, 2022NVDA STOCK PRICE DECREASE: NVIDIA Corp on 08-10-2022 decreased stock price > 10 from 189.89 to. read moreĪpple (AAPL.O) and Microsoft rose more than 1%, while Amazon (AMZN.O) and Google-owner Alphabet (GOOGL.O) added more than 2%, with all four companies making substantial contributions to the Nasdaq's increase.Īll 11 S&P 500 sector indexes rose, led by materials (.SPLRCM), up 2.26%, followed by a 2.06% gain in communication services (.SPLRCL).ĭata earlier in the day showed the U.S. Try Dividend Investor PREMIUM for as low as 29 Aug.
That drove a rally in the Philadelphia semiconductor index (.SOX). Nvidia (NVDA.O) jumped 4% after the graphics chipmaker gave a weaker-than-expected quarterly forecast that many investors viewed as signaling the worst of a sales downturn may be over. "Lower interest rates have certainly put some support underneath some of the more growth-oriented sectors," Northey said. Declining interest rates tend to benefit technology stocks trading at high valuations. Meanwhile, note that the median NVDA forecast price target (median being the middle where half of analysts had a higher NVDA forecast and half had a lower NVDA forecast, which is a different metric than the average or mean) was 205.0 as of, while the highest NVDA forecast in the analyst group was 410.0, and the lowest NVDA forecast. The yield on the closely watched 10-year Treasury note faded after recently hitting a two-month high.
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