Today, the Nasdaq Composite is at 11,621.71, marking a net change of 0.95% increase from its previous close of 11,512.41. It has reached its highest point of 11,691.89 and its lowest point of 11,470.27 today . This is in line with the current stock market trends, which indicate a generally positive outlook . According to Nasdaq, the market has seen a flurry of activity and investors have been responding positively .
Securities exchange Today: Nasdaq rises 2% as equities close higher after Federal Reserve increase, Powell remarks.
The Nasdaq Composite finished today’s trading session up 2%, closing at 11,816.32, after Federal Reserve Chair Jerome Powell’s press conference. This rally came as a result of strong earnings from Advanced Micro Devices, which boosted chipmaker stocks . The Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX) both finished the day in the green, with the Dow rising by 0.64% and the S&P 500 increasing by 1.03% . Additionally, the Invesco QQQ Trust (QQQ ETF) saw a surge in its shares, rising sharply after the press conference . Analysts at Goldman Sachs and Oppenheimer have suggested that the correlation between bonds and risk assets may turn less positive, or possibly even enter negative territory . In light of this, Oppenheimer is bracing for “below-consensus” AWS estimates .
Today, the top 5 Nasdaq gainers are Old Dominion Freight Line Inc. (ODFL) , Carmax Inc. (KMX) , Generac Holdings Inc. (GNRC) , Atara Biotherapeutics (ATRA) , and Twilio (TWLO) . ODFL experienced a 4.554% increase in share price, KMX experienced a 4.286% increase in share price, GNRC experienced a 4.187% increase in share price, ATRA experienced a 3.717% increase in share price, and TWLO experienced a 3.597% increase in share price. All of these stocks are important to watch, as the percentage gains may indicate a potential for profits. However, it is important to remember that trading in stock gainers carries some risks, and it is important to do your research and understand the risks involved before investing.
The Federal Reserve made its eighth interest rate increase in a year on Wednesday, a quarter-point move, down from the half-point hike in December and in line with the expectations of most Fed officials. The policy rate has now risen to a range of 4.5%-4.75%, which is slower than the 0.75% increases seen at previous meetings. While markets are expecting slower rate hikes in the near future, Fed Governor Chris Waller and a few other officials have suggested that hikes of 25 basis points will be appropriate going forward. This comes as economic activity has shown signs of slowing and consumer spending has decreased in the fourth quarter. Investors will be watching closely to see how much more the benchmark rate will rise and when the Fed could pause rate hikes altogether.
Aneta is a staff writer covering money content, including personal finances, savings accounts, taxes, loans, mortgages, credit cards, interest rates and insurances for FintechZoom. Contact: [email protected].