Nvidia Boosts Market, Jobs Report Fuels Rate Cut Hopes

US stocks soared on Thursday, driven by Nvidias strong earnings and positive outlook, as well as a surprisingly robust September jobs report. The Nasdaq Composite led the charge, climbing by over two and a half percent, while the S&P 500 gained more than one point eight percent. The Dow Jones Industrial Average also rose, adding over five hundred points. Nvidias stock surged by nearly five percent after reporting better-than-expected earnings and a positive outlook for its fourth-quarter revenue. The jobs report showed a strong jobs growth of one hundred nineteen thousand, leading to a re-evaluation of when the Federal Reserve might cut interest rates. However, the unemployment rate did tick up slightly to four point four percent. Following the report, options traders priced in a forty-two percent chance of a rate cut at the Feds next meeting in December.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.