Equity Alert
Rate cut hope lifts Nasdaq to new high; minimum 25 bps cut seen
This story was originally published at 07:30 IST on 9 September 2025
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Equity Alert: Rate cut hope lifts Nasdaq to new high; minimum 25 bps cut seen
MUMBAI--0721 IST--Stock indices in the US ended slightly higher Monday with the Nasdaq Composite notching a fresh high. Increased hopes of a rate cut by the US Federal Reserve later in the month following weak non-farm payrolls data aided sentiment. There is an 89% chance of a 25-basis-point cut in the meeting this month, while there is an 11% chance of a 50 bps cut, according to the CME Fedwatch tool.
"The focus is on next Wednesday's Fed rate cut; the market is greedy...its already discounted 25 basis points. Now, if people are buying because they expect 50 bps, well, that's not going to happen," Reuters quoted Jake Dollarhide, chief executive officer of Longbow Asset Management, as saying.
Broadcom extended its rally, gaining over 3% during the session. The chipmaker had Thursday said it expects sharp growth in its artificial intelligence-related verticals. Its market capitalisation has reached $1.6 trillion and the company is the seventh most valuable on Wall Street, Reuters reported.
Robinhood Markets surged 16%, and AppLovin gained 12%--both companies are set to be added to the S&P 500 from Sept. 22. Addition to a major index such as S&P 500 unlocks value for a stock as it can catalyse billions of dollars in trading, with passive funds typically expected to buy massive numbers of shares in the weeks following a stock's addition, CNBC reported.
EchoStar skyrocketed 20% after the telecommunications services firm agreed to sell wireless spectrum licences to Elon Musk's SpaceX for its Starlink network for around $17 billion. Other telecom playes such as AT&T, Verizon, and T-Mobile fell 2-4%.
Following are the closing levels of US indices Monday:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 45514.95 | 0.25 |
| NASDAQ Composite | 21798.699 | 0.45 |
| S&P 500 | 6495.15 | 0.21 |
(Akash Mandal)
End
US$1 = INR 88.27
Edited by Avishek Dutta
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