Tech stocks lead stock market rally after Fed rate cut fears are eased by mixed inflation data.

From Nasdaq: 2024-09-12 09:15:00

U.S. stocks rebounded on Wednesday, with tech stocks leading the rally, after earlier fears of a 50-basis point rate cut by the Fed were dashed by mixed inflation data. The Dow rose 0.3%, the S&P 500 gained 1.1%, and the Nasdaq jumped 2.2%.

Tech stocks like NVIDIA, Microsoft, and Apple saw significant gains, while major U.S. lenders like Goldman Sachs and JPMorgan also recovered from losses. Investors are now anticipating the release of the producer price index report on Thursday, another key inflation reading.

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Read more at Nasdaq: Stock Market News for Sep 12, 2024