HomeFinancial MarketsNasdaq, S&P 500 Highest Since August

Nasdaq, S&P 500 Highest Since August

Stocks continued to rise after a third straight week of gains as hopes of the Federal Reserve cutting its interest rates continue to rise. The S&P 500 closed 0.7% higher on Monday, while the tech-heavy Nasdaq Composite surged by over 1% as both indexes reached their highest levels since August. The Dow Jones Industrial Average also advanced, rising 0.5%.

Following an influx of strong economic data that suggested that inflation continues to cool, investors are now pricing a 30% chance that the Federal Reserve could start to cut its interest rates in March. The release of the minutes from the Fed’s latest meeting on Tuesday is expected to provide further insight into the likelihood of rate cuts going forward.

Also expected on Tuesday is the latest quarterly earnings from chip giant Nvidia, which are expected to provide a clearer outlook on the artificial intelligence landscape. Nvidia’s stock rose by over 2% on Monday to close at a record high.

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