(Bloomberg) -- Asia was set to extend a rally that pushed global stocks to fresh highs as jobs data supported the view the Federal Reserve will take more action to support the economy. The market sentiment was positive following the Fed's announcement of a sizable 50 basis point interest rate cut.
Nike Inc. made headlines on Thursday by announcing the appointment of Elliott Hill as its new president and CEO, replacing John Donahoe who is set to retire next month. The news sent Nike's stock up nearly 10% in after-hours trading, signaling investor confidence in the company's leadership transition.
AI chipmakers Nvidia and Advanced Micro Devices led the tech stock rally on Thursday, in response to the Federal Reserve's rate cut. Wall Street has interpreted the Fed's move as a positive step towards boosting the economy and driving market growth.
US bank stocks surged on Thursday following the Federal Reserve's jumbo rate cut, indicating bullishness among investors who anticipate further economic stability. The market has responded positively to the Fed's decision, reflecting confidence in the central bank's ability to navigate current economic challenges.
In a recent report, Goldman Sachs highlighted the 10 Buzzing AI Stocks, showcasing companies at the forefront of technological innovation. Investors are closely monitoring these AI stocks for potential growth opportunities in the evolving market landscape.
Nike's CEO transition and the market's response underscore the importance of strong leadership in driving company performance. The appointment of Elliott Hill signals Nike's commitment to revitalizing its business strategy and staying competitive in the retail sector.
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Oil prices remained steady in early Asian trade on Friday, positioned to end the week on a positive note amid ongoing market volatility. The energy sector continues to be a focal point for investors, with fluctuating oil prices influencing global market sentiment.
