US stocks mostly advanced on Thursday after the US Federal Reserve made its first rate cut of 2025.
As of 9:35 AM Eastern Time, the S&P 500 rose 0.4%, the Dow Jones Industrial Average was down less than 0.1%, and the Nasdaq Composite was 0.8% higher.
At the open, the Dow Jones Industrial Average rose 38.2 points, or 0.08%, to 46,056.55. The S&P 500 rose 26.5 points, or 0.40%, to 6,626.85, while the Nasdaq Composite rose 177.8 points, or 0.80%, to 22,439.111.
Tech shares jumped after US chipmaker Nvidia announced a $5 billion investment in Intel. The deal will see the two companies collaborate on developing custom data center and PC products, and resulted in Intel’s stock soaring more than 25%.
Nvidia stock climbed 2.5%
On Wednesday the Federal Reserve made a quarter-point rate cut — in line with market expectations — as it flagged risks to the US labor market.
The US central bank also hinted that more rate cuts are likely on the way.
