Federal Reserve Pushes Stocks To Record Highs As Rate Cuts Loom, Nvidia Rallies, Apple Faces Legal Woes: This Week In The Markets

The Federal Reserve kept rates unchanged at its March meeting, but new forecasts confirmed plans for three 25-basis-point rate cuts this year, boosting Wall Street optimism.

Fed Chair Jerome Powell hinted that rate cuts will occur if the economy evolves as expected. He downplayed the unexpected inflation surges in January and February, pushing the market to anticipate a 72% chance of a rate cut by June.

The S&P 500, Nasdaq 100, and Dow Jones reached new all-time highs this week, with the S&P 500 and Dow experiencing their best week since the year’s start, and NVIDIA Corp. NVDA marking its 11th consecutive week of gains.

Chart Of Week: Nvidia Notches 11Th Straight Week Of Gains, Soaring Over 90% Year-To-Date

ARK Investment's Predictions

Cathie Wood-led ARK Investment Management forecasts that five disruptive technologies — artificial intelligence, energy storage, robotics, multiomics, and public blockchains — will collectively be worth $220 trillion by 2030. This valuation marks a significant surge from the current $19 trillion, underpinning an era of accelerated economic growth and productivity.

Reddit’s IPO Surge

Reddit Inc. RDDT shares skyrocketed by 62% on their trading debut, with the initial public offering pushing the company’s market cap to $10 billion. This significant rise reflects strong investor interest, including both institutional and retail investors, aiming to democratize the IPO process.

NVIDIA’s Expansive Vision

NVIDIA CEO Jensen Huang clarifies that NVIDIA transcends traditional chipmaking, focusing instead on accelerated computing to revolutionize technology. By offloading inefficient computing tasks, NVIDIA’s approach aims to transform a $100-trillion industry through AI, with the introduction of the groundbreaking Blackwell chip.

AMD’s Potential Upswing

Advanced Micro Devices Inc. AMD stock could see a 27% return if it reaches its recent peak prices once again, amidst a significant tech rally and AI advancements. Despite a recent 23.5% drop from its all-time high, analysts view the decline as a buying opportunity, citing AMD’s strong AI narrative and innovative product launches as key growth drivers​.

Apple’s Legal Battle

Apple Inc. AAPL criticizes a Department of Justice lawsuit as a threat to its core identity and innovation, asserting it jeopardizes their product essence and market competition. The lawsuit accuses Apple of antitrust violations by limiting competitor access to iPhone features, marking the third such case in 14 years.

Musk Advocates Ketamine

Elon Musk defended his ketamine use for depression in an interview, arguing it boosts investor returns by enhancing his productivity. The discussion also touched on the impact of his drug use on Tesla Inc. TSLA and SpaceX‘s operations.

Read now: Gold Rush Begins As Fed Hints At Rate Cuts: 5 Mining Stocks Glitter With Over 30% Rally This Month

Wall Street bull illustraiton created using AI via MidJourney.