Wednesday’s trading session saw the stock market dip into the red following the Federal Reserve’s decision to cut interest rates by 0.5%. This marks the beginning of the central bank’s highly anticipated cutting cycle, the first since March 2020. The Dow Jones Industrial Average dropped 0.25% to 41,503.10, while the S&P 500 slipped 0.3% to 5,618.26. The Nasdaq also fell 0.3%, closing at 17,573.30.
Despite the overall market decline, several individual stocks captured the attention of retail traders and investors. Here’s a breakdown of some notable movers:
Nvidia Corporation (NVDA)
Nvidia shares closed down 1.92% at $113.37, after hitting an intraday high of $117.7 and a low of $113.22. The stock’s 52-week high is $140.76, and its 52-week low is $39.23. The tech giant is considering a $165 million acquisition of the OctoAI startup to bolster its software and cloud computing services.
T-Mobile US, Inc. (TMUS)
T-Mobile shares ended the day down 2.97% at $196.68, with an intraday high of $206.1 and a low of $195.47. The stock’s 52-week high is $206.31, and its 52-week low is $135.82. The company announced a partnership with Nvidia, Ericsson, and Nokia to pioneer AI-driven mobile networks. T-Mobile has also signed an agreement with OpenAI to transform customer experience and redefine customer success standards globally.
Vivos Therapeutics, Inc. (VVOS)
Vivos Therapeutics shares surged 47.50% to close at $4.13, after hitting an intraday high of $5.95 and a low of $3.02. The stock’s 52-week high is $48.79, and its 52-week low is $1.91. The FDA granted 510(k) clearance to the company’s flagship oral medical device, poised to disrupt the pediatric sleep apnea market.
SoFi Technologies Inc. (SOFI)
SoFi shares closed down 0.12% at $8.11, after hitting an intraday high of $8.53 and a low of $8.04. The stock’s 52-week high is $10.49, and its 52-week low is $6.01. The shares moved on heavy trading volume as investors anticipated a rate cut from the Federal Reserve.
Tesla Inc. (TSLA)
Tesla shares ended the day up 0.48% at $227.87, with an intraday high of $234.57 and a low of $226.55. The stock’s 52-week high is $273.93, and its 52-week low is $138.8. The shares traded higher likely due to the broader market reaction to the Federal Reserve’s recent policy decision to cut interest rates.
Stay tuned for further market updates and analyses as the week progresses.
