Markets React to Inflation Data: Tech Dips, Fed Rate Cut Hopes Rise
TL;DR Summary
The Nasdaq 100 surged to record highs as tech stocks led a market rally, driven by expectations of a 25-basis-point rate cut at the upcoming Federal Reserve meeting. The "Magnificent Seven" mega-cap stocks, excluding Nvidia, reached a combined market cap of $17.3 trillion. Bitcoin also soared past $100,000, while gold and oil prices rose. The S&P 500 and small-cap stocks gained, though the Dow Jones remained flat. Alphabet and Broadcom saw significant stock increases, while Walgreens Boots Alliance dropped after a recent surge.
- Nasdaq 100 Rallies To Record Highs, Magnificent 7 Market Cap Tops $17 Trillion, Bitcoin Soars To $100,000: What's Driving Markets Wednesday? Benzinga
- S&P 500, Nasdaq fall after a warm inflation report, decline in tech shares: Live updates CNBC
- Chances of Fed rate cut rise despite higher November inflation report Fox Business
- Here comes Santa Claus ... for stocks, following inflation report MarketWatch
- Tech-Led Stock Rally Put on Pause After Mixed Data: Markets Wrap Bloomberg
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