Stock market surges on hint interest rate cuts may be coming

The US stock market hit record highs last week, boosted by Federal Reserve Chairman Jerome Powell's testimony before Congress, where he indicated he was willing to ease monetary policy if positive data continues to firm up. the ongoing disinflation process.

Mirroring the stock market rally, rate-sensitive assets such as gold and bitcoin soared to unprecedented heights, with gold reaching $2,160 per ounce and bitcoin going up at $70,000. This increase reflects investors' anticipation of possible interest rate cuts from the Federal Reserve this year.

Nvidia's billion-dollar triumph

Nvidia's market capitalization increased by more than $1 trillion in just 67 days in early 2024, a feat that took Apple four years to achieve. This marks a monumental moment in the battle for megacap dominance, reflecting Nvidia's explosive growth and highly regarded position within the artificial intelligence space. and the semiconductor industry.

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