"Nasdaq Surges as Growth Stocks Drive Market; Investors Eye Federal Reserve's Remarks"

The Nasdaq rose as investors awaited commentary from Federal Reserve officials and economic data to gauge the central bank's interest-rate path. Nvidia jumped after Goldman Sachs added the chipmaker's stock to its conviction list, while Tesla fell after missing market estimates for third-quarter deliveries. Other megacap stocks including Apple, Meta Platforms, Amazon.com, Alphabet, and Microsoft also advanced. U.S. manufacturing showed signs of recovery in September, but the outlook remains muted. Traders' bets on the benchmark rate remained unchanged for November and December, while they have priced in a rate cut as early as March. Investors will closely monitor labor market data for more clues on the Fed's interest-rate path.