Fed's Actions and Banks' Struggles: Key Takeaways from a Pivotal Week.
TL;DR Summary
The Federal Reserve raised its benchmark interest rate by 25 basis points, but Chairman Jerome Powell ruled out rate cuts this year. Nvidia's AI push and Microsoft founder Bill Gates' comments on AI were also in focus. Ford made a pitch to Wall Street that it will make money on EVs by 2026, while GameStop posted its first profitable quarter in over two years. AMC's stock caught a bid mid-week in the wake of GameStop's better-than-expected quarter, and CEO Adam Aron tweeted that the company set an all-time record for "Food and Beverage Revenue Per Patron."
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