Forex
Nasdaq Extends Gains on Oil Price Drop, Fed Rate Hike Seen as Credibility Boost
US stocks extended gains into Friday as oil and Treasury yields fell, easing inflation concerns. The Nasdaq led the way, rising 0.36% in futures trading.
The market saw the Fed's rate hike as a sign of credibility, rather than a negative signal, with many investors interpreting it as an indication that the central bank is committed to containing energy-fuelled inflation pressures.
Nvidia is expected to double its chip sales next year compared to this year, according to CEO Jensen Huang. The company's recent forecast marks another indication of continued growth over the next six quarters.