Stocks Surge on Hopes of Fed Rate Cuts as Investors Watch Upcoming Earnings for Nvidia

Benzinga
Benzinga
  • 18 days ago
Stocks reached record highs this week due to an optimistic outlook on potential interest rate cuts by the Federal Reserve. Upcoming earnings reports from companies like Nvidia, Target, Palo Alto Networks, and Lowe's will be monitored closely. Economic news this week includes updates on manufacturing and services sectors, consumer sentiment, and the release of May FOMC meeting minutes. Nvidia's impressive earnings report in May 2023 has boosted the AI industry and impacted the overall market. Nvidia's stock has surged over 86% in 2024 and more than 200% in the past year since its groundbreaking earnings report in May 2023 sparked widespread enthusiasm for AI.

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