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Stock Market Today: US Stocks Rebound on Tech Surge Ahead of Fed Meeting

Stock Market Today: US Stocks Rebound on Tech Surge Ahead of Fed Meeting cover

The US stock market came roaring back this Wednesday, led by a strong rebound rally in technology stocks. Investors are waiting on the Federal Reserve's highly anticipated policy decision later in the day, with expectations leaning towards holding interest rates steady but hinting at a potential cut in September.

The Nasdaq Composite surged over 2.4% in its strongest performance since February. This resurgence came after chipmaker AMD (AMD) reported positive earnings fueled by robust AI performance. AMD's stock price skyrocketed over 7% early in the trading day, sparking a rally across the sector. Nvidia (NVDA), which suffered a drop on Tuesday, rebounded over 10% after Morgan Stanley declared the recent decline a "good entry point." This sentiment shift fueled optimism in the tech space.

Market Movers:

Fed in Focus

All eyes are on the Fed's policy meeting outcome. While a rate hold is widely expected, investors are eager for hints about a potential September cut. Jerome Powell's post-meeting comments will be closely scrutinized for any indication that recent economic data might prompt a more aggressive decrease.

Looking Ahead

As the Fed's decision nears, and earnings season continues to unfold, volatility is likely to remain high in the coming days. Investors should closely monitor these developments to navigate the market landscape effectively.

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