US stocks mostly advanced on Thursday after the US Federal Reserve made its first rate cut of 2025.
As of 9:35 AM Eastern Time, the S&P 500 rose 0.4%, the Dow Jones Industrial Average was down less than 0.1%, and the Nasdaq Composite was 0.8% higher.
Tech shares jumped, with Intel soaring more than 25% after US chip giant Nvidia announced it would invest $5 billion in Intel in a deal that would see the companies develop custom data center and PC products.
Nvidia stock climbed 2.5%
On Wednesday the Federal Reserve made a quarter-point rate cut — in line with market expectations — as it flagged risks to the US labor market.
The US central bank also hinted that more rate cuts are likely on the way.
