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Wall Street Closes at Record Highs Fueled by Fed Rate Cut and Nvidia-Intel Deal
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Fed rate cut + Nvidia-Intel deal push U.S. markets to records, but investor caution remains.
U.S. markets ended at record highs driven by a quarter-point rate cut by the Federal Reserve and a surprise investment by Nvidia in Intel. Intel shares rose nearly 23%, its biggest jump in decades, while Nvidia also gained. Tech and semiconductor sectors led the rally, with small-caps showing strength. Broader indexes like S&P 500 and Nasdaq rose significantly. Investors are now pricing in more rate cuts this year, though there is caution around potential overvaluation and global economic risks.