Wall Street’s stock indexes increased substantially on Friday, with the S&P 500 index climbing towards a record high, after Federal Reserve Chair Jerome Powell said “the time has come” to reduce interest rates.
Read More Dow Surges 400 Points as Wall Street Cheers Powell’s Fed Rate Cut Announcement
Wall Street’s main indexes edged lower on Monday as investors awaited fresh economic data and comments from Federal Reserve officials throughout the week.
Read More Wall Street retreats with data, Fed comments in focus
Broadcom surged about 15% as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology.
Read More Broadcom soars as demand for AI chips powers forecast raise
Google revealed the details of a new version of its data center artificial intelligence chips and announced an Arm-based , based central processor.
Read More Google unveils Arm-based data center processor, new AI chip
Nvidia is building a new business unit focused on designing bespoke chips for cloud computing firms and others.
Read More Exclusive: Nvidia chases $30 billion custom chip market with new unit -sources
The S&P 500 was muted and Nasdaq inched lower on Monday in the run-up to an action-packed week that includes the Federal Reserve’s policy meeting and inflation data.
Read More S&P, Nasdaq muted as markets brace for inflation and Fed