Fed Hints at Rate Cut, Tech Stocks Surge, Then Plunge

Stock Market Fluctuates: Interest Rate Hopes, Jobs Report ImpactThe stock market experienced a rollercoaster ride today, with initial gains driven by hopes of an interest rate cut, only to be followed by a sell-off due to a stronger-than-expected jobs report. The day began with optimism as Federal Reserve President John Williams hinted at further monetary policy easing, boosting growth-oriented sectors like software. Companies such as Samsara and Pegasystems saw their stock prices rise. However, Nvidias positive earnings report and optimistic outlook couldnt prevent a broader market sell-off, as investors shifted towards more stable, defensive stocks. The market couldnt sustain its morning gains, reflecting a growing caution about high-flying tech valuations in an environment where interest rates might stay higher for longer.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.