From Investing.com: 2024-11-07 13:01:02

The S&P 500 reaches record highs post-Fed interest rate decision anticipation. Index gains 0.7%, near intraday record of 5,972.9. Dow rises 44 points, Nasdaq up 1.4%, hitting intraday highs. Attention shifts to Fed’s rate decision, with markets expecting a quarter-point reduction in benchmark rate.

Moderna reports surprise profit driven by COVID-19 vaccine sales, but anticipates lower sales in 2024. Warner Bros Discovery stock rises 10% after surprise profit, misses revenue estimates. Lyft stock surges 25% on strong sales, upbeat guidance, and new self-driving car partnership. Block, Pinterest, Rivian Automotive earnings awaited.

Qualcomm jumps over 5% after fiscal Q4 beats estimates, announces $15B stock buyback. Chipmaker’s focus shifts to edge applications, UBS raises price target to $190. Arm Holdings ADR surprises with quarterly results, shares up over 4%. Fed Chair Powell’s comments key as futures predict additional rate cuts.



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