The Nasdaq index, which predominantly contains technology companies, pushed Wall Street higher in trading Tuesday (12/3/2024), in line with investors' decision to maintain expectations of a reduction in the Federal Reverse (The Fed) interest rate in the next few months despite US inflation in February 2024 is a little hotter than expected. The Dow Jones Industrial Average rose 217.15 points or 0.56% to 38,986.81. Meanwhile, the S&P 500 index rose 49.33 points or 0.96% to 5,167.27 and the Nasdaq index rose 217.75 points or 1.36% to 16,237.02. Eight of the 11 main sectors of the S&P index also strengthened, with shares in the technology-based sector leading with a gain of 2.0%. Shares of the chipmaker snapped two straight days of declines with a gain of 1.7% and shares of Nvidia jumped 5.9%. Meanwhile, META shares rose 3.4%, and Oracle shares jumped 11.2% after signs that the company would experience an increase in market share in cloud computing thanks to collaboration with Nvidia. A report from the US Department of Labor shows that the consumer price index (CPI) for February 2024 increased 0.4% monthly after increasing 0.3% in the previous month. This increase occurred amidst higher fuel prices and housing costs. Based on the CME FedWatch Tool, capital market investors currently see a 70% potential for the Fed's first interest rate cut in June 2024. Before the inflation report was released, the potential for a decrease was at 71%. The stock market rally last month slowed after data showed signs of a strong economy and stable inflation, as investors pushed back expectations about the timing of the Fed's first rate cut to June from March. Producer price data will be released later this week and will provide further clues regarding inflation. Read our other insightful economic news: https://bit.ly/FPGGlobalEco #FPG #Fortuneprimeglobal #commodity #equity #technicalanalysis #technology #news #investors #intraday #investing #fundamentalanalysis #stake #markets #liq