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S&P 500 Hits Record High as Intel Soars on Nvidia Deal; FactSet Stumbles
S&P 500 Hits Record High as Intel Soars on Nvidia Deal; FactSet Stumbles
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Intel shares surged 23% after Nvidia announced a $5 billion investment and a collaboration on advanced chip manufacturing. The deal marks a significant vote of confidence in Intel's turnaround efforts, coming weeks after the U.S. government took a 10% stake in the company.
Financial data provider FactSet saw shares decline as margin pressures weighed on earnings. The company's profit results and forward guidance disappointed investors amid tightening industry conditions.
The broader market rallied, with the S&P 500 gaining 0.5% to close at a record high. The Nasdaq outperformed with a 0.9% gain, while the Dow ROSE 0.3%. The advance followed the Federal Reserve's widely anticipated interest rate cut announcement the previous day.
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