00:00 Speaker A
Let’s get to the three things that you need to know today.
00:03 Speaker B
First up, US stock futures little change this morning, as investors anxiously await that Federal Reserve rate decision at 2:00 p.m. Eastern today. The central bank is expected to hold interest rates steady, but it could offer clues on the outlook for the economy and monetary policy with quarterly dot plot. Also in focus, any commentary from Fed chair Powell on economic growth, which could ease investor concern about softening economic data.
00:25 Speaker A
Plus, Nvidia shares ticking higher this morning after CEO Jensen Wong took the stage in San Jose to tout a new lineup of chips that he says would provide a clear payoff for customers.
00:42 Jensen Huang
Each one of these phases, each one of these waves, opens up new market opportunities for all of us. It brings more and new partners to GTC. As a result, GTC is now jam-packed.
01:03 Speaker A
Huang introduced a variety of hardware, software, and services during his speech. Though there were no bombshell revelations for investors, and Nvidia shares closed lower after the event. At the event, Huang said that the new Blackwell Ultra processor lineup would arrive in the second half of 2025. It will be followed by a more dramatic upgrade called Vera Rubin in the latter half of 2026.
01:28 Speaker B
And sticking with Nvidia and the tech trade, meta has officially become the last member of the Magnificent 7 to fall into the red this year, recovering a bit this morning, but the stock has erased 26% of that gain for 2025. Now down half a percent for the year, the decline especially notable, as it comes in the wake of a historic rally that saw shares gain for an unprecedented 20 straight sessions. New data compiled by Bloomberg showing even tech investors like Kathy Wood are shunning the stock as her ARK Innovation ETF cut its stake in Meta, selling shares for the first time in nearly a year.
