Stocks bask in Nvidia glow, dollar steady

Quick Summary:

LONDON: Global stocks hit record highs on Wednesday, driven by a rally in tech shares that has made AI chipmaker Nvidia the world's most valuable company, while the dollar stalled as soft U.S.retail sales data suggested rates could fall this year.

"Rate cuts are a stronger story for 2025 but that's fine because there is hope that it will happen in a bigger way over the next two years even if 2024 remains uncertain, and that will keep markets supported," Menon said.

Fed officials are looking for further confirmation that inflation is cooling and for any warning signs from a still-strong labour market as they steer cautiously toward what most expect to be a rate cut or two by the end of this year.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: MalaysiaJapanUnited States

Topics: Markets /Business/Business News Currency Stocks Dollar Trading Equities

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-19 @ 20:42:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 751 words

Reading Time: 5 minutes read

Sentences: 23 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21312963

View Article Analysis

About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 13 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 15 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

Frequently Asked Questions