(Reuters) – Signals of a September rate cut by the Federal Reserve and rosy sales forecasts from Meta provided support to the US stock market, although declines in stocks related to chip can limit extras.
Meta jumped 9.8% after the profit in the second quarter and the increase in the sales forecasts of the third quarter indicate the possibility of covering the costs of AI, sending the sector of communication services by 2, 0% .
Most megacap stocks advanced, with Apple (NASDAQ: ) and Amazon (NASDAQ: ) gaining 0.8% and 1.6%, respectively, ahead of their earnings call at the market close. Tesla (NASDAQ: ) lost 0.7%.
AI leader Nvidia rose 0.8% after boosting its market value by about $330 billion yesterday – a record one-day gain for any Wall Street company.
At 4.20pm, the Average, after a positive start, fell by 186.17 points, equivalent to 0.46%, to 40,656.62, increased by 6.02 points, equivalent to 0.11%, to 5,528 .32, and increased by 97.98 points, equivalent to 0.5% , at 17,697.38.
Moderna fell 14.9% after cutting its 2024 sales forecast for Covid-19 and respiratory syncytial virus vaccines by up to 25%.
arm Holdings (NASDAQ: to the Chinese telecommunications company Huawei, which has been subject to sanctions.
(Translated by Chiara Scarciglia, editing by Stefano Bernabei)