Nasdaq Jumps 1.4% as Fed's Waller Signals Rate-Hike Pause
IXIC sits 28% above its 52-week low of $20,690.249.
Summary
The Nasdaq surged 366 points (1.4%) to 26,584 on Thursday, extending Wednesday's rebound. The rally was driven by Fed Governor Waller's comments that he's inclined to keep rates unchanged, which pushed the market-implied probability of a September hike down from 63% to 50%. Treasury yields fell, boosting rate-sensitive tech and software stocks. Snowflake led the sector higher, soaring 16.6% after beating earnings and raising guidance. Wall Street indexes climbed more than 1%. Traders now turn to Friday's August jobs report, which could swing rate expectations sharply.
At the time of this announcement, IXIC was trading at $26,584.06 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,190.21. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.