QQQ Up in Late Hours on Nvidia’s Bullish Forecast: Markets Wrap
- US business activity barely expands on subdued customer demand
- Euro area’s worsening downturn fuels wagers on ECB pause
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Stocks climbed the most since June, while bond yields fell after economic reports in both the US and Europe fueled bets that major central banks will pause their interest-rate hikes to prevent a recession.
In late hours, a $200 billion exchange-traded fund tracking the Nasdaq 100 (QQQ) gained after a bullish revenue outlook from Nvidia Corp. — the chipmaker at the heart of the artificial-intelligence frenzy that has driven the equity-market higher this year. The company also jumped in extended trading after approving an additional $25 billion in buybacks.