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Wall Street Futures Surge as Fed Hints at More Cuts, Nvidia’s $5B Intel Bet Lifts Tech

  U.S. stock futures climbed on Thursday, with the Nasdaq leading gains, after the Federal Reserve cut interest rates by 0.25 percentage points and signaled two more reductions could follow in 2025. Dow Jones Industrial Average futures rose 0.7%, S&P 500 futures gained 0.8%, and Nasdaq 100 futures jumped 1.2%, buoyed by a sharp rally in tech stocks. Intel shares surged nearly 30% in premarket trading after Nvidia announced a $5 billion investment in the struggling chipmaker, though the deal stops short of a manufacturing partnership. The Fed’s move, aimed at supporting a slowing economy amid high inflation and a weakening labor market, initially sparked caution, but optimism returned as investors bet on a more accommodative policy path. If gains hold, the S&P 500 is set to open above 6,700 for the first time, extending September’s unexpected rally. Traders are now watching weekly jobless claims for further clues on the labor market, while corporate earnings — including ...
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Canada’s Inflation Rate Eases to 2.7% in June

Canada’s annual inflation rate cooled to 2.7% in June, according to Statistics Canada. This figure came in slightly lower than financial industry consensus expectations. Here are the key points:

  • Monthly Basis: The Consumer Price Index (CPI) decreased by 0.1% in June.
  • Grocery Prices: While overall inflation eased, grocery prices continued to rise.
  • Interest Rate Implications: The Bank of Canada will closely scrutinize these figures as it prepares for its next interest rate decision on July 24.

This decline in inflation follows a period of higher rates during the pandemic. The current rate is nearing the Federal Reserve’s target, signaling a potential stabilization.


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