NEW YORK, Feb 7 — The S&P 500 and the Nasdaq rose today after a week of choppy trading spurred on by mixed quarterly results from big technology companies, while Peloton jumped on media reports of interest from potential buyers including Amazon.The tech-heavy Nasdaq had a choppy start to February after Facebook owner Meta Platforms lost US$200 billion from its market value on disappointing results last week, while Amazon.
Peloton Interactive Inc jumped 28.4 per cent on media reports that Amazon and Nike are exploring potential buyout offers for the exercise bike maker. Markets are now pricing in a one-in-three chance the Fed might hike by a full 50 basis points in March and the prospect of rates reaching 1.5 per cent by year end.
This year will be bumpy ride given feds planning to raising interest rates