Published on 25 May 2024 on Zacks via Yahoo Finance
"Zero" Fed Rate Cut in 2024? ETF Strategies to Follow
Two factors – the Artificial Intelligence Craze and the Federal Reserve – have been pulling the strings of Wall Street for the past year. This week has also not been an exception. The key AI and chip player NVIDIA NVDA reported its earnings on Wednesday after the market closed and expectedly boosted AI optimism in the market, but only for a short while.
This happened because the second driver – Fed minutes – came into play and did not allow Wall Street to remain enthusiastic for long. Stocks slipped from record levels on Thursday as interest rate worries dominated investor sentiment (read: AI & Fed Driving Stock Market? ETFs to Bet On).