Nasdaq Composite advanced 1.7% to 15,000.09 points, topping the 15,000‑level for the first time since July 12, 2023. The lift came after the Fed’s 25‑basis‑point hike on Wednesday, the first in three years, and a muted sentiment surrounding AI developments.
The market’s reaction underscores a cautious optimism: technology names led the rally, while the broader S&P 500 gained 1.1% and the Dow slipped 0.1% amid lingering concerns over higher rates.
Oil futures slid to $99.60 a barrel on New York Mercantile Exchange, retreating from a peak of $101.20 earlier in the week. The dip follows easing pressure from the war in Iran, though continued disruptions in the Strait of Hormuz keep supply worries alive.
In the semiconductor arena, the PHLX Semiconductor Index was only slightly lower for the week, as calls from Anthropic and OpenAI for a slowdown in AI development have steadied the sector’s earlier sell‑off.
Globally, Asian markets closed higher: Nikkei 225 up 1.38%, Kospi 2.66%, CSI 300 1.06%, while Australian S&P/ASX 200 remained flat. European shares slipped 0.4% on the Stoxx 600, fading after a two‑day winning streak.
Traders now look toward the next Fed policy meeting on October 10, with hints of an additional rate hike this year, and Q2 earnings releases that could further shape the tech‑heavy momentum.