US EditionAsian Shares Retreat After Intel Helped Drive Wall Street to More Records
Intel's stock surged 22.8% following Nvidia's $5 billion investment, boosting tech sector performance amid Federal Reserve rate cuts aimed at supporting a slowing job market.
- On Thursday, Nvidia and Intel announced a collaboration including a $5 billion Nvidia investment, propelling Wall Street to more records.
- The Federal Reserve cut its main interest rate on Wednesday, the first cut this year, as the job market slowed while inflation remained stubbornly high.
- Market data showed the S&P 500 rose 31.61 points to 6,631.96, and the Nasdaq climbed 209.40 to 22,470.73, helped by Intel's gains.
- On Friday, Asian shares mostly retreated following the tech rally that pushed Wall Street to records, while Bitcoin climbed above $117,500 after the Fed's rate cut.
- Encouraging economic reports last week helped lift Treasury yields, with the 10-year Treasury yield jumping to 4.11%, while the S&P 500 aims for a third straight winning week and the Russell 2000 index rallied 2.5%.
37 Articles
37 Articles
Wall Street closed this Thursday with records on its main indicators, animated by the expected decline in interest rates in the United States and by the sharp rise of Intel (23 percent) after it became known that Nvidia will be one of its big shareholders.As a result, Wall Street barometers reached new historic peaks. The biggest rise was for Nasdaq with 0.94 percent, in the 22 thousand 470.73 integers, followed by the S&P 500 which rose 0.48 pe…
Intel’s best day in decades helps drive Wall Street to more records
Wall Street rolled to more records, led by a rally for technology stocks. The S&P 500 rose 0.5% Thursday. The Dow Jones Industrial Average added 0.3%, and the Nasdaq climbed 0.9%. All three set all-time highs. Nvidia was the strongest…
All the main clues reached memories at the end, a rare event. Intel shot 23% ap s neg as with Nvidia.
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