US stock markets surged on Thursday, with the S&P 500 and Nasdaq pushing toward fresh record highs, as a combination of a Federal Reserve interest rate cut and a tech rally led by Nvidia and Intel boosted investor confidence.
Market Performance
- S&P 500: Up 0.4%, set to break its all-time high from earlier this week.
- Nasdaq Composite: Gained 0.8% in early trading, driven by technology stocks.
- Dow Jones Industrial Average: Edged up 0.1%.
Tech Stocks in Focus
- Intel shares soared 28% after announcing a $5 billion investment partnership with Nvidia to develop custom data center CPUs and PC products.
- Nvidia rose 2.6%, with analysts welcoming the collaboration to strengthen AI infrastructure and next-gen computing.
Other Movers
- Cracker Barrel fell 8.2% after projecting weaker sales and declining customer traffic amid backlash over a logo redesign.
- Walt Disney remained largely flat after ABC suspended Jimmy Kimmel’s late-night show following remarks criticized by FCC Chairman Brendan Carr.
Federal Reserve Rate Cut
The Fed delivered its first rate cut in nine months, signaling cautious optimism for economic growth. Projections hint at more reductions through late 2025 and into 2026. Analysts say the move aims to balance slowing job growth with sticky inflation while supporting market momentum.
Global Markets Snapshot
- Europe: Germany’s DAX and France’s CAC up 1.1%; UK’s FTSE 100 up 0.3%.
- Asia: Japan’s Nikkei up 1.2%; South Korea’s Kospi up 1.4%; Hang Seng down 1.4%; Shanghai Composite down 1.1%; Australia’s ASX 200 down 0.8%.
- India & Taiwan: BSE Sensex up 0.1%; Taiex up 1.3%.
