On Wednesday, the US markets closed higher following Federal Reserve Chair Jerome Powell's indication that rate cuts are imminent. Powell suggested during his press conference that a rate cut could be considered at the September meeting, leading to a positive response from investors.
Additionally, tech stocks experienced a surge after Advanced Micro Devices exceeded earnings expectations. Nvidia, in particular, saw a significant increase of 12.8%, marking its best performance since February.
The Dow Jones Industrial Average rose by 100 points, or 0.2%, reflecting the overall positive sentiment in the market. The S&P 500 also showed growth, increasing by 1.6%, while the Nasdaq Composite outperformed with a gain of 2.6%.
As the trading day concluded, stock levels may have experienced slight fluctuations, but the overall trend indicated a strong performance across various sectors.
