US stocks reversed higher as chips led a rebound one day after the Fed's rate hike

The Nasdaq 100 jumped 1.73% to 29,447 and 10-year Treasury yields fell to near 4.95% as traders re-read the Fed's quarter-point hike to 3.75%-4% as inflation-fighting resolve.

Deepakshi

Kristal Research & Marketing team

18 Sept

Key takeaways — AI summary

The Nasdaq 100 rose 1.73% to 29,447, the S&P 500 gained 1.14% to 7,638 and the Dow added 0.61% to 51,783, reversing Wednesday's slide after the Fed raised rates by a quarter point to a 3.75%-4% range.
Semiconductors climbed about 3% and led the technology sector up 2.2%; the 10-year Treasury yield fell to near 4.95% in a bull flattening, while Brent crude dropped about 2% to just over $104.
Generac surged 17.8% on a seven-year deal to supply Amazon up to $8 billion of generators for data centres; Super Micro rose 9.5% and Intel 7.5% on AI hardware and memory-shortage themes.
Fluence Energy fell 14.31% after cutting full-year revenue guidance to $2.4 billion on Houston plant production problems, now expecting a $200 million operating loss.
Traders put October hike odds at 51% and December at 78%; Goldman Sachs now expects a second October hike, while futures price three more quarter-point rises over twelve months versus the Fed's projected one.

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