"Stock Market Soars as Nasdaq Hits Record Highs and Nvidia Surges Ahead of Fed Meeting"

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Source: Investor's Business Daily
"Stock Market Soars as Nasdaq Hits Record Highs and Nvidia Surges Ahead of Fed Meeting"
Photo: Investor's Business Daily
TL;DR Summary

Dow Jones futures, S&P 500 futures, and Nasdaq futures rose as the market awaited the Federal Reserve's meeting decision. The stock market rallied, with the Nasdaq hitting a 2023 high, and leading stocks like Nvidia reclaimed buy points. Microsoft, Amazon, Netflix, Datadog, and Freshworks found support around their 21-day moving averages. Tesla retreated but found support at its 50-day moving average, and the company announced that two Model 3 variants will lose all of their $7,500 U.S. tax credits on Jan. 1. The Federal Reserve is not expected to take any action, but investors are watching for any signals of a shift towards rate cuts in 2024.

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