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Advanced Micro Devices (SMCI.O) has begun volume shipments of Nvidia Blackwell Ultra processors.The Dow Jones Industrial Average closed up 617.08 points, or 1.36%, to 46,108.00 on Thursday, September 11; the S&P 500 closed up 55.43 points, or 0.85%, to 6,587.47 on Thursday, September 11; and the Nasdaq Composite closed up 157.01 points, or 0.72%, to 22,043.07 on Thursday, September 11.On September 12th, according to five Republican officials, Republican leaders are planning a House vote next week on a stopgap spending bill to extend government funding until November 21st, the Friday before Thanksgiving. House Appropriations Committee Chairman Steve Cole confirmed Thursday that a vote would take place next Monday, advancing a measure that Democratic leaders have signaled they will veto. "We can do it," Cole said. "The gap is narrow. But its also going to be difficult to get done in the short time we have left, because Im probably going to have to get it done by the end of next week." If the stopgap funding bill passes the House, Senate Republicans could also put it on the table next week. The November 21st date has not yet been finalized.According to Politico: US Republicans are considering extending government funding until November 21.Tesla (TSLA.O): The company submitted its application for test registration certification on September 3rd, which was processed by the commercial licensing team yesterday. The Autopilot license plate and registration certificate were also resent to the company yesterday.

S&P 500 Tests New Highs As FOMC Minutes Show Fed May Slow The Pace Of Rate Hikes

Jimmy Khan

Nov 24, 2022 16:23



The S&P 500 rose when the FOMC minutes were made public.


The S&P 500 hit daily highs near the 4030 level as traders reacted to the release of the FOMC Minutes.


Markets benefited since the FOMC Minutes were a little bit dovish. According to FOMC Minutes, the majority of poll participants believed that the most likely outcome at the ensuing December meeting would be a rise in the target range for the federal funds rate of 50 basis points.


It's important to note that some participants noted an increase in the risk that the total amount of policy constraint would be greater than what would be necessary to get inflation back to 2 percent.


The FedWatch Tool estimates that there is an 80.6% chance of a 50 bps increase at the subsequent Fed meeting in December. At the start of today's trading session, there was a 71.1% chance of a 50 bps hike. Equities will benefit from the chance of a "modest" rate increase, which is rising.


The bulk of market segments have been rising as of late. Energy equities were put under pressure as WTI crude closed below the $78 mark, however reports indicated that the Russian oil price restriction may be set in the $65–$70 range. Schlumberger, Halliburton, and Baker Hughes all suffered losses of 3–4% during today's trading session.

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