Nvidia powers Wall Street surge as Fed rate cut hopes lift sentiment

Wall Street opened near record highs on October 29, buoyed by Nvidia’s market capitalization crossing $5 trillion and investor optimism over potential U.S. Federal Reserve rate cuts. The Nasdaq continued its upward trajectory, driven by gains in large-cap technology firms despite lingering macroeconomic concerns. Traders anticipate the Fed could announce easing measures before year-end as inflation stabilizes. Analysts said the combination of robust corporate earnings and monetary optimism is reinforcing investor confidence across equity benchmarks.