Posted 3/1/2024, 11:26:00 AM
Stocks Mixed as AI Rally Counters Rate Cut Hopes After Solid Inflation Data
- U.S. stocks struggled to find direction after previous session's rally driven by inflation data and AI stock mania
- Nvidia and AMD hit new highs, continuing to drive AI rally
- Latest inflation data was in-line and showed slowing growth, supporting rate cut bets
- Regional banks dropped as New York Community Bancorp revised Q4 loss much higher
- Dell and Autodesk gained on strong earnings and forecasts betting on AI server and software demand