⚠️BREAKING: *NASDAQ SOARS 3% AS META'S SURGE TRIGGERS SEA OF GREEN IN TECH $QQQ $META
As well as earnings from Meta, sentiment on tech was also helped by renewed confidence that the Federal Reserve will end rate hikes sooner rather than later after downshifting to a quarter-point“The rates market is now implying a peak funds rate of 4.88%, which means just one more hike, likely followed by a May pause,” Jefferies said in a note.
Tesla added to its recent rally, rising more than 7% as clouds hanging over demand in China appear to be departing somewhat following a Reuters report that the company will lift output at its Shanghai factory to nearly 20,000 vehicles per week for February and March. The surge in growth corners of the market including tech and consumer discretionary appeared to come at the expense of value sectors as energy and healthcare stocks fell.
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