Market Surge: Tech Giants Drive Wall Street's Rally Post Fed Rate Cut

On Thursday, U.S. stock index futures climbed as the S&P 500 and Nasdaq achieved new highs, buoyed by the Federal Reserve's decision to reduce interest rates by a quarter-point. Simultaneously, Intel's shares skyrocketed by 31% post-Nvidia's announcement of a $5 billion investment to support Intel's chip foundry operations.

The rate cut, highlighted as a 'risk management' measure by Fed Chair Jerome Powell, aims to mitigate signs of labor market softness. Future projections indicate potential for further cuts, with investors betting on nearly two additional quarter-point reductions by the end of 2025.

In the broader market landscape, the Dow E-minis, S&P 500 E-minis, and Nasdaq 100 E-minis all posted gains, fortifying Wall Street's rally propelled by anticipations of monetary policy easing. Meanwhile, stock movements included increases for CrowdStrike and Nike, contrasted by declines for Nucor and Advanced Micro Devices.