Tech giants led market rebound, Nasdaq 100 up 1.2%, Nvidia Corp. boosts 13%.

From Yahoo Finance: 2024-10-08 11:00:05

Stocks rebounded as tech giants led the way, with Nasdaq 100 rising 1.2% and Nvidia Corp. boosting 13%. Treasuries remained steady, but China’s lack of stimulus disappointed traders. Fed officials remain focused on keeping inflation at 2%, despite lowering rates by half a point last month. S&P 500 hit 5,740, while megacaps surged. Honeywell plans to spin off division, while Robinhood plans investor day. Treasury 10-year yields rose to 4.04%, WTI crude fell to $73.64. El-Erian criticizes market volatility due to uncertainty around Fed rate cuts. Corporate news includes Hon Hai boosting server capacity and PepsiCo lowering revenue outlook. Economic events this week include Fed minutes, jobless claims, and Wall Street bank earnings. Markets overall saw slight gains with currencies remaining stable and WTI crude falling.



Read more at Yahoo Finance: ‘Mag Seven’ Rally as Nvidia’s Winning Run Tops 13%: Markets Wrap