Nasdaq gains 1.7% as risk markets rally after rate hike
It’s been a jittery September so far, but the uncertainty around the Fed rate hike is now in the rear-view mirror, so investors took the occasion to put money back to work on Thursday.
The Nasdaq closed higher by 1.7% and the S&P 500 by 1.15%.
Megacaps like Nvidia, Google, Tesla, Amazon, and Eli Lilly all posted gains of 1% or more, while chipmakers like Micron, AMD, and Intel rose 5% or more.
Government bond yields fell across the curve, with the 10-year U.S. Treasury down 6.5 basis points to 4.94% and the two-year lower by 5.4 basis points to 4.67%.
Bitcoin rose 0.5%, underperforming the broader CoinDesk 20 Index, which gained 1.5%.
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