00:00Wall Street's main indexes posted record-high closes on Thursday, a day after the U.S. Federal Reserve delivered a quarter-point interest rate cut,
00:08while cheapmaker Intel rose after Nvidia decided to build a stake in the company.
00:13Intel was on track for its biggest daily gain since October 1987, after Nvidia said it would invest $5 billion in the struggling U.S. cheapmaker.
00:22Yeah, so stocks are higher today. They've had a chance to fully digest both what the Fed did and what Fed Chair Powell said.
00:31I think there were mixed takeaways, but ultimately, with a little bit of distance, the market has decided,
00:37look, we've got no recession on the horizon, a rate cut, and a Fed that says they're going to cut rates more than they had said at their June meeting.
00:45And then you have the AI tailwind that seemingly is not quitting.
00:49You know, there was some corporate news this morning about Nvidia and Intel, but ultimately, you're seeing results on the AI front that's driving tech higher,
00:58as well as a backdrop of lower rates and no recession.
01:00It's kind of that, you know, Goldilocks cocktail that we, you know, we talk about that the market is always searching for.
01:07It's not perfect, but we're pretty close to it right now.
01:10I think the winners of the kind of Nvidia-Intel marriage ordeal is the broader U.S. AI landscape, right?
01:18There had been some news earlier in the week about China restricting or banning U.S. chips to be used in some of their AI and just their broader tech landscape.
01:31And so to get kind of a doubling down on U.S. partnership, U.S. collaboration to build, you know,
01:38the preeminent kind of AI ecosystem in the U.S., you know, it's kind of a big picture view of things.
01:43But I think that the U.S. is the winner in this to get the collaboration and to try to keep a step up on China
01:51and what has become, you know, kind of the space race of the 2020s.
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