Markets are opening on a strong note as optimism around artificial intelligence and interest-rate cuts converges into broad risk-on sentiment. The Federal Reserve is expected to cut rates by 25 basis points later today, a move nearly fully priced into markets.
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Mega-cap tech names continue to lead the advance, with Nvidia poised to surpass a $5 trillion market cap. The broader equity rally is backed by strong earnings and upbeat trade signals, including improved U.S.-Asia relations and easing fears of immediate escalation in export conflicts.
While sentiment is high, the market faces a “data blind spot” created by the continuing U.S. government shutdown, which has delayed key economic releases and left the Fed and investors without full visibility into labor and inflation trends.
In pre-market trading, S&P 500 futures rose 0.24%, Nasdaq futures rose 0.38% and Dow futures rose 0.23%.
Check out this morning’s top movers from around Wall Street, compiled by The Fly.
HIGHER –
UP AFTER EARNINGS –
- Fortive (FTV) up 9%
- Centene (CNC) up 9%
- Cognizant (CTSH) up 7%
- Caterpillar (CAT) up 6%
- Verizon (VZ) up 4%
- CVS Health (CVS) up 3%
- GE HealthCare (GEHC) up 1%
- Booking Holdings (BKNG) up 2%
DOWN AFTER EARNINGS –
- Fiserv (FI) down 38%
- Verisk Analytics (VRSK) down 7%
- Boeing (BA) down 1%
- Kraft Heinz (KHC) down 1%
- United Therapeutics (UTHR) down 1%
- Varonis (VRNS) down 30%
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