Nasdaq Clinches New Records
U.S. equities were broadly higher last week amid renewed AI optimism and growing confidence for multiple upcoming interest rate cuts. Markets fully priced in a near certain quarter-point rate cut at the Fed’s September 16- 17 FOMC meeting after consumer inflation came in hotter-than-expected in August. Weekly initial jobless claims also surprised higher, rising 27,000 to 263,000, the most since late October 2021.
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