The tech-heavy Nasdaq 100 Index closed Tuesday’s session at 20,011 points, rallying 1% and marking the highest daily closing price ever recorded,
Shares of Microsoft Corp. (NYSE:MSFT), Apple Inc. (NASDAQ:AAPL), and Amazon.com Inc. (NASDAQ:AMZN) – together comprising 20% of the tech index’s total weight – all reached fresh all-time highs during Tuesday’s trading session.
Investors showed strong confidence in mega-cap tech giants, with nine out of the 10 largest stocks within the Nasdaq 100 closing in positive territory. The sole exception was Nvidia Corp. (NASDAQ:NVDA), which fell by 1.4%.
Fed Chair Powell Bolster Rate Cut Hopes
At an ECB monetary policy panel on Tuesday, Fed Chair Jerome Powell suggested that the disinflation trend has resumed and the labor market is showing signs of “appropriate cooling.”
This has bolstered investor confidence that the Federal Reserve will soon initiate a…
