Wall Street rises on Fed rate cut signals and NVIDIA’s historic milestone

AWANI

Wall Street indexes closed higher on Wednesday following the release of Federal Reserve meeting minutes that boosted investor confidence in potential interest rate cuts later this year, despite inflation concerns linked to President Donald Trump’s import tariffs being deemed temporary or modest, while market sentiment remains tense as noted by Brian Mulberry of Zacks Investment Management, who highlighted the need for impactful updates from major trading partners, and NVIDIA surged to become the world’s first company to reach a $4 trillion market value, reinforcing its dominance in the AI sector alongside gains from other megacap stocks like Microsoft and Amazon.

Transcript

00:00Wall Street indices rose on Thursday with the S&P 500 and the Nasdaq Composite marking close record highs

00:06as investors shucked off President Donald Trump's latest tariff moves

00:10while investors were encouraged by an upbeat forecast from Delta Airlines.

00:15Delta shares rallied 12% after the carrier forecast third quarter and full-year profits above Wall Street estimates.

00:21The day sector rallied with United Airlines adding 14.3% and American Airlines climbing 12.7%.

00:33The Dow Transportation Index, widely considered as economic barometer, hit its highest since late February.

00:41Apart from that, the minute meeting from the Fed will play a crucial role.

00:44Obviously, the Fed is going to be important.

00:50They continue to have to toe this line between are tariffs and deportations going to be inflationary?

00:59We don't hear a lot of talk about deportations, but they could potentially have a big impact on the profitability of certain industries,

01:09won't be every industry, and could drive prices up as well.

01:14So, you know, the Fed is on this knife's edge between reacting to potentially higher inflation

01:23and potentially lower growth, and so I think it's fairly certain that we're not going to see the Fed cut rates

01:32at the next meeting, but it's not at all certain to me what will happen in the fall.

01:38Initial jobless claims for the week of July 5 came in about 227,000, below the consensus of 235,000 in Reuters pool.

01:50The number marked as seven-week low, all the data around holidays such as last week's July 4 can often be volatile.

01:58None of the 11 major S&P sectors advanced.

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