AI Fuel Boosts Global Markets, Gold Hits Record Amid Fed Speculations
Global markets experienced gains driven by AI optimism and expectations of U.S. interest rate cuts. Tech stocks soared, with Nvidia investing $100 billion in OpenAI, while gold prices hit record highs. Investors awaited Federal Reserve Chair Jerome Powell's remarks, crucial for shaping future interest rates.
Global markets experienced a surge on Tuesday, primarily fueled by optimism surrounding artificial intelligence (AI) and potential U.S. interest rate cuts. The rise in tech stocks significantly contributed to the gains, while gold prices reached new record highs.
Meanwhile, Wall Street appeared poised to extend its gains after a technology-driven rally set new closing records on Monday. The anticipated comments from Federal Reserve Chair Jerome Powell were expected to play a pivotal role in shaping the outlook for interest rates, amid mixed signals from the Fed.
Nvidia's announcement to invest up to $100 billion in OpenAI underscored the broader importance of AI in driving economic growth. As AI investments flourish, concerns over inflation and interest rate cuts loom large, with investors closely monitoring the Federal Reserve's next steps.
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