On Wednesday, the Nasdaq Composite went up a lot after the inflation report in November came out as expected. This means the Federal Reserve might lower interest rates again next week. The Nasdaq reached 20,000 for the first time ever, while the S&P 500 also rose by 0.9%. However, the Dow Jones Industrial Average fell a little. The technology sector did really well, with the Technology Select Sector SPDR Fund rising by more than 1%. This fund has gained over 24% so far this year. Alphabet saw gains for the second day in a row after making progress in quantum computing. Other big tech companies like Meta and Amazon also did well. Nvidia and Tesla, along with other popular stocks, went up following the inflation report. The Federal Reserve is likely to cut rates in its upcoming meeting, according to experts, which is good for the market.
Overall, the market seems to be doing well and is expected to continue to rise until the end of the year.
Vocabulary List:
- Composite /kəmˈpɒzɪt/ (noun): A thing made up of several parts or elements.
- Inflation /ɪnˈfleɪʃən/ (noun): A general increase in prices and fall in the purchasing value of money.
- Sector /ˈsɛktər/ (noun): An area or portion that is distinct from others.
- Gains /ɡeɪnz/ (noun): An increase in something particularly in financial context.
- Progress /ˈprɒɡrəs/ (noun): Forward or onward movement towards a destination or goal.
- Forecast /ˈfɔːkɑːst/ (verb): To predict or estimate a future event or trend.
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