"Tech Rally Boosts Wall Street Ahead of Fed Meeting"
TL;DR Summary
The Nasdaq led gains on Wall Street ahead of the Federal Reserve's meeting, with Alphabet jumping on reports of talks to integrate Google's AI engine into the iPhone. Tesla also rose after announcing a price increase for its Model Y EVs in Europe, while Nvidia's AI developer conference and new chip announcements were in focus. Stronger-than-expected inflation figures have prompted investors to reconsider rate cut expectations, with Goldman Sachs now expecting three interest rate cuts in 2024. The Dow Jones Industrial Average was up 0.39%, the S&P 500 up 0.96%, and the Nasdaq Composite up 1.37%.
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