Wall Street is in full risk-on mode following the Federal Reserve’s landmark decision to slash interest rates by 50 basis points, signaling further cuts as inflation approaches the central bank’s target.
The S&P 500 and Dow Jones both set fresh record highs during the morning session in New York, buoyed by strong performances from the Magnificent Seven tech giants.
By midday, these elite tech stocks added over $500 billion in market value, boosting their combined market capitalization to $15.9 trillion.
Tesla Inc. (NASDAQ:TSLA) led the rally, surging nearly 7% and hitting a two-month peak, while NVIDIA Corp. (NASDAQ:NVDA) climbed 5%, driving the semiconductor sector higher.
The iShares Semiconductor ETF (NASDAQ:SOXX) jumped 4.6%, fully erasing its ...
