The markets were lower today following the Federal Reserves decision to raise rates a quarter of a point for only the second time in 10 years. This sent bond prices lower on the day along with all of the major indices. The Dow 30 closed lower by 117, the S&P 500 lost 18, and the Nasdaq 100 lost 27. Tomorrow investors will be looking towards manufacturing numbers as well as unemployment claims which are due out prior to the market open.
NVIDIA (NVDA ) joined the ever growing list of stocks to make all time highs today as it added 5.79%. The move comes after investors responded to Evercore's upgrade of the company to buy from hold with a price target of $120 a share. The analysts at Evercore predict that 2017 should be another banner year for the Artificial intelligence markets. Just this year alone the stock has more than tripled.
Hertz (HTZ ) continues to trade quite in a volatile range losing 8.28% today. The company announced that it has named a new CEO, but in addition it is also reducing its board size. The current CEO will leave his post in January and be replaced by a former GE executive, Kathryn Marinello. Hertz's largest shareholder Carl Icahn has been in favor of the move saying that Marinello "is the right person to lead Hertz as we move forward." This comes a month after the company reported disappointing earnings, causing the stock to drop over 20% in one day.
Amazon (AMZN ) officially announced today the launch of Amazon Prime Video in India. The video streaming service is now available in the country to Amazon's Prime subscribers at no extra charge. Shares were slightly lower today (-0.69%) as the Nasdaq was weak.