US tech stocks notch biggest jump in 6 months

A Federal Reserve official has indicated that the central bank should not abandon the possibility of a rate cut in December, despite ongoing challenges in balancing inflation and unemployment. The Fed's dual mandate complicates decision-making, as raising rates can lower inflation but may lead to job losses, while cutting rates can reduce unemployment but potentially increase inflation.

Invest Green Acquisition has successfully priced its initial public offering (IPO) at $150 million and is set to list on the Nasdaq, marking a significant milestone for the company as it enters the public market.

Greenwave Technology has requested a hearing with Nasdaq following delays in its financial filings, which raises concerns about its compliance with the exchange's listing requirements. This request comes amid a challenging market environment for many companies, as seen with other firms facing similar scrutiny from Nasdaq.

Asian stocks followed Wall Street's upward trend as optimism grew regarding a potential interest rate cut by the Federal Reserve in December, alongside a rebound in technology shares. This shift comes after a week of volatility marked by concerns over inflation and a tech bubble.

Vimeo has been acquired by Bending Spoons US in a cash deal valued at $1.38 billion, resulting in its delisting from Nasdaq. This acquisition marks a significant shift in Vimeo's corporate structure and future direction.

The Nasdaq experienced a significant rebound, gaining 2.7%, marking its best performance since May, largely driven by strong performances from Alphabet and chip stocks. This surge reflects a renewed investor confidence in the tech sector amidst recent volatility.

Jim Caron, CIO of Morgan Stanley Investment Management, stated on Bloomberg that the market is uncertain about the likelihood of a Federal Reserve rate cut in December, suggesting a 50/50 chance. This uncertainty follows mixed signals from economic indicators and employment data.

The Federal Reserve is facing challenges in convincing some banks to utilize the standing repo facility, a tool intended to enhance its control over short-term money markets. Despite the Fed's reassurances, concerns about the implications of using this facility persist among financial institutions.