Goldilocks Still Alive.
Wall Street was in a very optimistic mood last week, boosted by a highly positive take on the outcome of the Fed interest rate-setting meeting on Wednesday and its quarterly “Dot Plot” projections. AI confidence continued to thrive and the process of global interest rate cuts finally got under way in Switzerland. The upshot was the best week of the year so far for stocks.
Nvidia’s Developer Conference on Monday, which showcased spectacular new chips aimed at extending the company’s dominance of AI, briefly distracted Wall Street from its laser focus on Wednesday’s Fed meeting (see below)…
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