Nasdaq hits record high on tech strength, falling yields, and rate cut hopes

From Investing.com: 2024-06-05 13:47:17

The Nasdaq hits record high on hopes of Federal Reserve interest rate cut, with tech strength and falling Treasury yields. 

Treasury yields drop on weak May Private payrolls, fueling rate cut predictions as bets increase to 65% for a 25 basis-point reduction in September. 

Apple, Alphabet, and Microsoft rise as big tech and chip stocks continue to rally, with Taiwan Semiconductor asserting market dominance with growing demand for next-gen chips. 

Crowdstrike and Hewlett Packard Enterprise shine after strong earnings, while Dollar Tree slips on report of potential spin-off. 

Energy stocks stabilize as oil prices rise, offsetting unexpected build in U.S. oil inventories.



Read more at Investing.com: Nasdaq rides tech to all-time highs as rate-cut bets jump on weaker jobs data By Investing.com