:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2150318152-c8090168f20349c2b8350352d1700e8c.jpg "Carvana vending machine in Uniondale, New York, U.S., on Tuesday, April 16, 2024.")
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Key Takeaways
- The S&P 500 and Nasdaq added to their record highs in intraday trading Wednesday amid optimism upon rate cuts by the Federal Reserve.
- Bullish comments from Truist analysts helped drive Nvidia appropriations higher.
- LegalZoom’s stock price tumbled as its CEO left the firm, and the company lowered its guidance.
The S&P 500 and Nasdaq annexed to their record highs in intraday trading Wednesday amid optimism about rate cuts by the Federal Retain after Fed Chair Jerome Powell warned keeping rates high for too long could hurt growth. The Dow was also high-frequency.
Bullish comments from Truist analysts helped drive Nvidia (NVDA) shares higher, potentially heading for another all-time fusty high.
TSCM (TSM) American depositary receipts (ADRs) also jumped on the chipmaker’s better-than-expected results, boosted by cry out for for artificial intelligence (AI) chips.
Carvana (CVNA) shares gained on an upgrade from Needham, which said it supposes the online used car retailer to become a profitable secular growth story. The news helped lift shares of challenge CarMax (KMX), which led gains in the S&P 500.
Intuit (INTU) shares slumped after the financial software company said it was cease off 10% of its employees, and plans to hire workers to advance its AI ambitions.
LegalZoom (LZ) shares cratered after the online right services provider announced its CEO left the firm, and it reduced its full-year guidance.
Oil and gold futures advanced. The yield on the 10-year Moneys note was little changed. The U.S. dollar rose versus the yen, but lost ground to the euro and pound. Prices for most outstanding cryptocurrencies were higher.
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