Stock Market Surges Amid Fed Rate Cuts While Tech Giants Face Valuation Concerns

Major stock indexes climbed after the Federal Reserve cut interest rates, leading to record highs for the Dow and S&P 500. Tech stocks dipped amid concerns over valuations, while financial and materials sectors gained traction. The dollar and bond yields saw declines as investors adjusted rate expectations.

Major stock indexes mostly rose on Thursday, fueled by the Federal Reserve's recent interest rate cut. The Dow Jones and S&P 500 achieved record closing highs, showcasing a shift in investor confidence.

The rate cut, which was a 25 basis point reduction to 3.5%-3.75%, surprised some as the Fed projected a less aggressive stance moving forward. This has prompted investors to prepare for potential rate cuts next year.

However, not all sectors flourished. The Nasdaq dipped as tech giants like Oracle and Nvidia faced scrutiny over their valuations. Meanwhile, financial and material stocks gained ground, demonstrating market volatility in the face of evolving economic policies.