ASX to rise, Nvidia surges higher, Fed holds
Australian shares are poised to rise. Nvidia surged near 13 per cent higher on a bullish analyst call, Microsoft’s AI spending plans and AMD’s outlook. All three US benchmarks mostly held their gains after Federal Reserve policymakers further signalled the likelihood of a rate pivot in September.
Wall Street’s volatility metric tumbled 7.5 per cent. The NYSE Fang + Index, a measure of the megacap techs, leapt 3.4 per cent. The yield on the US 10-year note fell 11 basis points to 4.03 per cent at 4.45pm in New York.
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