The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that angered Americans and helped drive Donald Trump's presidential election victory this week. The rate cut follows a larger half-point reduction in September, and it reflects the Fed's renewed focus on supporting the job market as well as fighting inflation.
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Shares of Nvidia rallied to a record high on Thursday, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House. The dominant AI chipmaker's shares rose 2.2%, lifted by broad investor optimism about tax cuts and lower regulations after trump's victory.
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Swiggy IPO GMP, Subscription Status Day 3 Latest News Today (November 8): Swiggy's IPO closes for subscription today, following a modest response from investors with a 0.12 times subscription rate on the first day. The IPO aims to raise Rs 11,327.43 crore through a mix of a fresh issue, valued at Rs 4,499 crore, and an offer for sale of 17.51 crore shares worth Rs 6,828.43 crore.
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