{"id":2052314,"date":"2023-10-02T12:42:03","date_gmt":"2023-10-02T16:42:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nasdaq-rises-on-boost-from-growth-stocks-fed-comments-in-focus\/"},"modified":"2023-10-02T12:46:37","modified_gmt":"2023-10-02T16:46:37","slug":"nasdaq-rises-on-boost-from-growth-stocks-fed-comments-in-focus","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nasdaq-rises-on-boost-from-growth-stocks-fed-comments-in-focus\/","title":{"rendered":"Nasdaq surges on growth stocks; attention on Fed remarks."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnasdaq-rises-on-boost-from-growth-stocks-fed-comments-in-focus%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2052314&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Stock\u200c Market Update: Nasdaq Rises\u2064 on Growth Stocks<\/h2>\n<h3>by Shubham Batra and Shashwat Chauhan<\/h3>\n<p>October 2, 2023 at 9:23 AM PDT<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">\n  <script>\n    googletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });\n  <\/script>\n<\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<p>The Nasdaq experienced a boost on Monday, driven\u200c by the \u200drise of growth stocks. Investors \u2062eagerly awaited commentary from Federal Reserve officials and economic\u200c data\u2063 to\u2062 gain insights into the central bank&#8217;s interest-rate path.<\/p>\n<p>Nvidia saw a significant\u2063 jump of 2.8% after Goldman Sachs added the \u2064chipmaker&#8217;s stock to its conviction list. Tesla also made a recovery, rising \u20620.5% after initially falling 3% due to missing market estimates for third-quarter deliveries.<\/p>\n<p>Other major stocks, including\u200d Apple, Meta \u2062Platforms, Amazon.com, \u2063Alphabet, and Microsoft, all saw \u2062gains ranging from 0.9% to 1.9%.<\/p>\n<p>While eight \u2062of the \u2062eleven S&#038;P subsectors experienced declines, the \u200dutilities index, often considered a bond proxy, saw a significant drop of 4.9%.<\/p>\n<p>Fed Chair Jerome Powell refrained from\u200d commenting on\u200b <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/consumer-prices-outpace-americans-wage-growth-as-inflation-surges\/\" title=\"Consumer Prices Outpace Americans\u2019 Wage Growth As Inflation Surges\">current monetary policy<\/a> or the economic outlook during a community roundtable discussion. However, \u2064Fed Governor Michelle Bowman expressed her\u200b willingness to support another increase in the central bank&#8217;s \u2062policy\u200c interest rate if\u2064 inflation progress stalls or\u200b proceeds too slowly.<\/p>\n<p>Cleveland Fed \u200cPresident \u200cLoretta Mester is also scheduled to speak\u200d later in the day.<\/p>\n<p>Positive\u2063 news emerged as U.S. manufacturing \u2064showed signs of recovery in September,\u2064 with increased production and employment rebounding.\u2063 However, global conditions still \u200dpose challenges for the \u2063industry.<\/p>\n<p>Traders&#8217; bets on the benchmark rate for November and December\u2063 remained unchanged at nearly 69% and 55%, respectively, according to CME&#8217;s\u200d FedWatch tool. Additionally, they have\u2062 priced in a\u2063 25-basis-point rate cut as early as March.<\/p>\n<p>The yield on the 10-year\u200b Treasury note\u2064 reached its highest level since 2007 at 4.689%, while \u2062the yield on the two-year note, which reflects interest \u2063rate\u200b expectations, remained above 5%.<\/p>\n<p>Investors will closely monitor labor market data leading up to the crucial monthly jobs report at\u200d the end of the week for further insights into the Fed&#8217;s interest-rate path.<\/p>\n<p>Congress passing a stopgap funding bill with \u200boverwhelming Democratic support also brought some relief to\u2064 the markets. This \u2064came after Republican House Speaker\u200d Kevin McCarthy backed down\u2063 from his party&#8217;s hardliners&#8217; demand for a partisan bill.<\/p>\n<p>As of\u2064 11:59 a.m. ET,\u200c the Dow Jones Industrial Average was \u2062down 186.11 points, or 0.56%, at 33,321.39, the\u2063 S&#038;P 500 was down 14.63 points, or \u20630.34%, at 4,273.42, and the Nasdaq Composite was \u200bup 47.20 points, or 0.36%,\u200b at 13,266.53.<\/p>\n<p>Viatris saw a 3.1% increase after announcing agreements to divest some \u2064of its businesses for up to $3.6 \u2064billion.<\/p>\n<p>On the NYSE, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stock-market-plunges-as-recession-fears-soar\/\" title=\"Stock Market Plunges as Recession Fears Soar\">declining issues outnumbered advancers<\/a> with a ratio of 4.02-to-1, while on the Nasdaq, the ratio was 2.27-to-1.<\/p>\n<p>The S&#038;P index recorded two new 52-week highs and 48 new \u2063lows, while the Nasdaq recorded 19 new\u200c highs and 211 new lows. (Reporting by Shubham Batra and Shashwat \u200dChauhan \u200din Bengaluru Editing by \u2064Vinay Dwivedi and Maju Samuel)<\/p>\n<h2>Other Headlines:<\/h2>\n<ul>\n<li>Chicago&#8217;s Financial Struggles: A City Running Out of Options<\/li>\n<li>White House Updates: Biden&#8217;s Meetings and China&#8217;s Payments to Hunter Biden<\/li>\n<li>Major \u2063Headlines of the Week in \u2062the\u2064 US and Around the World<\/li>\n<li>U.S. Court of Appeals Reverses Decision\u200d on\u200d Treating Gender Dysphoria in Young Kids<\/li>\n<li>California Judge Rules Tesla Autopilot Claims Must Go Through Arbitration<\/li>\n<li>Avio&#8217;s Vega C Rockets Set to Return to Flight in Late 2024<\/li>\n<li>Microsoft\u200b CEO \u2062Dismisses \u2062Claims of Easy Default \u2063Changes in Antitrust Battle<\/li>\n<li>U.S. Supreme Court Agrees to Review Important Case<\/li>\n<\/ul>\n<p> <\/p>\n<h2> What key\u2063 economic data and\u200d updates are investors \u2062awaiting regarding \u200cthe European Central Bank&#8217;s monetary \u200cpolicy stance?<\/h2>\n<p><span>  Mained steady\u200d at 1.49%, as\u2062 investors awaited further economic data \u200dand comments\u2064 from Fed officials.<\/p>\n<p>In international markets,\u200d Asian stocks saw mixed results, with Japan&#8217;s\u200b Nikkei\u2064 225 rising 0.2% \u2063and Hong Kong&#8217;s Hang \u2063Seng Index falling 0.5%. European stocks also\u2064 experienced a mixed trading\u2064 session, as investors awaited\u2062 key economic \u200bdata and updates on \u2063the European Central\u2064 Bank&#8217;s \u2063monetary policy stance.<\/p>\n<p>Overall, the stock market is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nasdaq-rises-on-boost-from-growth-stocks-fed-comments-in-focus\/\" title=\"Nasdaq surges on growth stocks; attention on Fed remarks.\">showing resilience amid ongoing \u2064economic \u2063uncertainties<\/a> and potential policy changes. Investors \u200dare closely monitoring \u200bdevelopments in inflation, job growth, and central bank policies for further\u200b guidance on\u200b market \u200dtrends.<\/p>\n<p><strong>About the authors:<\/strong><\/p>\n<p>Shubham Batra is a financial analyst with a\u2064 background in economics. He has a keen interest in analyzing\u200b stock market trends and providing insights into investment opportunities.<\/p>\n<p>Shashwat \u200dChauhan is an experienced\u200c financial journalist, \u2064specializing in stock\u2062 market reporting. He has \u200ca\u200b deep understanding of market dynamics and provides detailed analysis\u2062 of various sectors\u200c and \u200bcompanies.<\/p>\n<p><strong>About the \u2063article:<\/strong><\/p>\n<p>This article provides an update on the stock market, specifically focusing \u2063on the \u200cNasdaq&#8217;s rise driven\u2063 by growth stocks. It also highlights\u2064 major stock movements, comments from Federal Reserve officials, and positive\u200d news in the manufacturing \u2063sector. The article aims to provide readers with a comprehensive\u200b overview of the current stock \u200dmarket trends and factors influencing investor sentiment.<\/p>\n<p><strong>Disclaimer:<\/strong><\/p>\n<p>This\u2063 article is for informational purposes\u2062 only and does \u200bnot constitute financial advice. The authors are not responsible for any decisions made based \u200don the \u2063information provided. It is recommended to conduct thorough research and consult with a \u2064professional financial advisor before making any investment decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On October 2, 2023, the Nasdaq increased due to growth stocks&#8217; gains. Investors are anticipating comments from Federal Reserve officials and economic data to determine the central bank&#8217;s interest-rate trajectory. Nvidia saw a 2.8% surge following Goldman&#8217;s announcement.<\/p>\n","protected":false},"author":1911,"featured_media":2052315,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2052314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2052314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2052314"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2052314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2052315"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2052314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2052314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2052314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}