In a day filled with market ups and downs, the largest technology companies led a surge in stocks ahead of Apple Inc.’s eagerly anticipated earnings report. Traders are also keeping a close eye on Friday’s jobs report, with expectations split among investors on how the market will react.
Bonds saw a climb, while the dollar experienced its biggest drop in 2024. Nvidia Corp. led the rally in chipmakers, with Apple also seeing a 2% increase in its stock price.
Despite the market fluctuations, the Federal Reserve decided to leave the benchmark rate unchanged, with Fed Chair Jerome Powell signaling that a rate hike is unlikely in the near future. This news comes as hedge funds are turning defensive amid growing uncertainty in the market.
Major corporate highlights of the day included news from companies such as Peloton, MGM Resorts, Carvana, DoorDash, Moderna, and Apollo Global Management. Investors are also watching key events this week, including Eurozone and US unemployment data, the ISM Services report, and a speech from the Chicago Fed President.
Overall, stocks, currencies, cryptocurrencies, bonds, and commodities all experienced various movements throughout the day, highlighting the continued volatility in the market. Stay tuned to Bio Prep Watch for more updates on the latest developments in the financial world.