Why Artificial Intelligence (AI) Stocks Broadcom, TSMC, and Arm Holdings Were Moving Higher Today

Artificial intelligence (AI) stocks were soaring today in response to the Federal Reserve's decision yesterday to cut the benchmark interest rates by 50 basis points.The federal funds rate is now 4.75%-5%, and the central bank signaled that it would cut rates twice more, by 25 basis points each time, before the end of the year.While stocks were volatile after the announcement yesterday, investors gave the news a full-throated cheer this morning, with major stock market indexes up sharply. The S&P 500 was up 1.5% and the Nasdaq up 2.3% as of 10:09 a.m. ET. Growth stocks and those dependent on capital investment like AI stocks did especially well.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool