Wall Street ended on a positive note – E24

Wall Street ended on a positive note – E24

Tek shares rose further after Monday's rally. The market now awaits Wednesday's interest rate meeting at the Federal Reserve.

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The most important American indicators indicated a decline at the opening of the stock market on Tuesday, but during trading they turned positive.

This is what the end of the stock market looks like:

  • The S&P 500 collective index closed 0.56% higher.
  • The Nasdaq technology index rose 0.39 percent
  • The Dow Jones index rose 0.83 percent

Monday opened the trading week higher, led by technology stocks.

Tesla was one of the biggest winners yesterday with a 6.3 percent increase. These pants came after the electric car company announced an increase in the prices of its Model Y in the United States and some European countries. CNBC writes.

Tesla shares fell by 1.43 percent on Tuesday.

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NVIDIA launches new chips for artificial intelligence

Nvidia kicked off its annual GTC 2024 developer conference on Monday evening. CEO Jensen Huang spoke on the opening day.

Yesterday, the artificial intelligence giant unveiled Blackwell, a new graphics processor designed to accelerate artificial intelligence (AI).

The first Blackwell chip is called the GB200 and will be available later this year, according to Nvidia's own conference. Bloomberg and CNBC write about it.

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According to CEO Jensen Huang, Blackwell is “the engine that will drive the new industrial revolution,” and should be several times faster than its predecessor, Hopper, on centralized AI tasks.

Nvidia shares rose 1.07 percent.

    Jensen Huang, founder and CEO of Nvidia, was photographed on stage during the company's annual development conference on Monday evening.

Shares of computer company Super Micro Computer fell sharply in early trading Tuesday.

The company, which produces computers, servers and, among other things, artificial intelligence (AI), on Tuesday announced the sale of 2 million new shares, it wrote. CNBC.

According to the company itself, the purpose of the sale is to obtain more capital for operations.

The company is among the biggest winners in the wake of the AI ​​boom, and the stock price is up about 250 percent on Wall Street so far in 2024. The stock was included in the S&P 500 on Monday, CNBC reported.

The stock fell 8.96 percent.

Interest rate meeting decision on Wednesday

The market is now awaiting Wednesday's interest rate decision and new interest rate forecasts from the US central bank, the Federal Reserve.

The Fed is widely expected to keep interest rates unchanged in a range of 5.25-5.50 percent, the level it has been at since July last year.

Since the Fed's forecast in December, many key numbers about the US economy have pointed to continued high activity. In February, more non-agricultural jobs were created than expected, and price inflation rose slightly.

I wouldn't be surprised if the Fed said on Wednesday that it no longer envisages three rate cuts, but two. It is difficult, no matter what Norges Bank says, to strengthen the krone exchange rate, Dane Sikhoff, currency strategist at Nordea Markets, told E24 at the weekend.

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Hanisi Anenih

Hanisi Anenih

"Web specialist. Lifelong zombie maven. Coffee ninja. Hipster-friendly analyst."

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