For the tech sector. Ai Chip Giant nvidia has been surging on reports that the us government is considering allowing it to export advanced semiconductors to Saudi Arabia itjumped some 8 in Wednesdays Session pulling up the rest of big tech. Melissa 0tto is from S P global visible alpha where she heads up their technology research team. Just had us Producer Price Index data a little hotter than expected. That coupled with a little hotter consumer Price Index data yesterday. Does it change anything for when the fed meets next week . Are markets too optimistic about the pace of further Rate Cuts . Thank you, great to connect with you today. 0verall, thank you, great to connect with you today. Overall, the economic data that we saw Yesterday And Today was broadly in line with expectations. Based on S And P intelligence submitted for the September Rate cut of 25 basiS Points, what we have been seeing and driving some of the volatility in the market is there was some rhetoric over the past few weeks that that Rate Cut was going to be 50 basiS Points as opposed to 25 and given Yesterday And Todays economic data, that seems to now be skewing more towards the 25 basiS Point cap. Tech stocks were on a Tear Yesterday helped out by nvidia. Do you think Tech Rally has more room to run . Yesterday, Jensen One was at the Goldman Sachs conference, i listened into his commentary and interview, it was a really exciting Listen Hearing him talk about the business and the outlook for al jensen wong. A couple of things that came out of that, demand is quite unquote, so great, he said, that was something that got the Market A said, that was something that got the marke got the Market A bit excited, blackwell got the Market A bit excited, blackwell is got the Market A bit excited, blackwell is expected got the Market A bit excited, blackwell is expected to blackwell is expected to deliver a 2. 5 Billion in revenue in the fourth quarter and for that tojump and for that to jump significantly and for that tojump significantly next year to around 55 Billion so the market is reallyjust trying to get its head around the magnitude of how big that demand really is in terms of revenues. Thanks to Melissa 0tto of S P global visible alpha. Lets move to europe now because theres cheaper borrowing for the 350 Million people that use the euro currency. In the last hour or so, the European Central Bank which setS Policy for the 20 nations in the eurozone has cut its main Interest Rate by a quarter of a percentage point. It now stands at 3. 5 . Like other central banks, the ecb cranked up rates to try and tame soaring prices but with inflation now back close to the banks 2 target, Todays Cut was widely expected. But how much further will European Rates come down . Ecb chief Christine Lagarde has not been giving many clues in her press conference. 0ur Interest Rate decisions will be based on our assessment of the Inflation Outlook in light of the incoming economic and financial data. The dynamics of underlying inflation and the strength of monetary policy transmission. We are not recommitting to a particular rate path. Joining us now is Kathleen Brooks, Research Director at the trading platform xtb. A 25 basiS Points cut was fully baked already, but the question remains whether the ecb will cut again in october and december. What do you expect . Is there room to cut rates further . They certainly didnt get any clues from Christine Lagarde, they arent willing to pre commit, no Forward Guidance and with anything, they sounded and with anything, they sounded a bit more hawkish, less likely to cut Interest Rates but in terms of the market reaction, it is almost as if they dont believe the ecb. The Growth Outlook in the ecb is weak, they cut their Growth Outlook at this meeting as well and we know there are lots of problems in germany so think it is quite natural that the market is expecting the ecb to still cut in october and december this year, even though they have said today they arent recommitting and i think with the problems in the economy, particularly for germany and its industrial sector which is really facing massive challenges, there has been big problems with the Car Sector for example this week, i think we could see the ecb actually having to ditch some of their favouritism towards inflation and to start focusing on growth. I and to start focusing on growth and to start focusing on urowth. ,. , , growth. I want to pick up there. Rather than inflation, some officials are now anxious about economic growth, which has stumbled, especially in germany. Ecb cuts growth forecasts for every year through 2026. But they havent changed Inflation Outlook. Why didnt they cut Interest Rates more aggressively . So, they are a bit worried about Service Sector Inflation and the difference between the ecb and the fed is that the ecb only has one mandate, all it has to do is maintain Price Stability and keep prices at 2 , that is what theirjob is. If they see threats to that which they obviously do as we have seen from this meeting, they think inflation could pick up they think inflation could pick up towards the end of the year to get further away from that 2 target, then they arent going to cut rates and certainly wont commit to cutting Interest Rates no matter what growth does so unless they change their mandate and start focusing on growth or if we see a precipitous decline in growth over the next couple of months, i dont see them cutting Interest Rates. I think it is all to do with this September Inflation reading, it leaves a lot of risk of volatility in European Assets i think in the next couple of weeks while we wait for that September Inflation print because of that it does come in weaker than expected then i think they will cut Interest Rates in october but if we get an upside surprise then that really will be a fine glance whether or not they do that. Be a fine glance whether or not they do that thanks to Kathleen Brooks of xtb. Boeing flies into a new pocket of turbulence today. 30,000 workers at itS Plants in Washington State and Oregon Begin Voting shortly on a new four Year Contract that could see them walk out on strike. The proposed agreement has been recommended to workers by the Iam Union and includes a Pay Rise of 25 over the next four years. But some are unhappy with the deal which falls far short of their original demands which included a 40 Pay Rise. The vote which closes at 5pm Pacific Time is a key test for new boeing Ceo Kelly 0rtberg who was brought in to restore confidence in the Aerospace Giant after a string of Safety And Quality issues. An Aviation Consultant John Strickland explaned to us earlier. That new boss just sent out an email to the workforce yesterday, imploring them to think carefully about the way they vote today and looking for a more conciliatory relationship with the company. He certainly spent time on the Shop Floor in the few weeks hes been in place. Hes talked about the risks to boeing that a strike would bring in an already challenging financial environment. But the reality is feelings are running high and theres a lot of history in this, which obviously goes back way before him joining the business about a month ago. The company has, over a long period of time, played pretty well hard ball with its workers. Its done things such as reduced pension rights. Its threatened and in some cases moved jobs out of the Seattle Area to other parts of the us. So weve put that alongside the issue of what the actual Pay Award might be and some of the fringe benefits relating to Pension And Child care and so on. There really are strong emotions at stake. Now to space because as you have been hearing in the last few hours, the crew of the Spacex Polaris Dawn have become the first non professional astronauts to walk in space. Its a huge boost for the commercial Space Industry and for elon musks spacex Rocket Company which he founded over two decades ago. Already the worlds richest person, musk� s wealth could receive another huge boost from spacex if it goes ahead with selling shares. Its now thought to be valued at more than 200 Billion around 40 is owned by musk. Joining me now is kate arkless gray, a space journalist. Kate, what does this tell us about Space Xs Dominance in the industry . This is a really exciting mission, the first time any commercialflight has mission, the first time any commercial flight has attempted something like this but it isnt really the core of the business that they do which is launch services. They definitely are the key player in launching rocketS And Payloads and now they are able to launch pretty much once per week if not more than that. That is where their true strength lies but they have been doing more and more with commercial Space Missions and sending astronauts to space. You said they arent professional, i think that is unfair on them because they have been training for this mission for the past two years, although how we define astronaut these days is a matter of some contention i think. How significant is this, notjust for spacex, but the whole industry . Well, i think it is an example of what can be done by private companies and that is quite exciting to see them pushing the boundaries of space like that. This is the furthest that any women have ever been in space, they have gone further than any Human Mission since the last Apollo Mission back in 1972 and i think it really shows what they are aiming to do is take life away from earth and make it multi planet tree. That is elon musk� s big plan. Whether there is a real Business Case for that certainly at the moment, im not certain but do you want to ever bet against spacex . Thanks to kate arkless gray, a space journalist. Lets take a look at the markets. Shares higher after the ecb agrees to cut Interest Rates by 25 basiS Points. The Dax Up Six Tenths of a percent, the footsie a little bit behind it. Commodities, oil higher. In asia, Markets Closed Higher boosted by Tech Stocks and in the us, Markets Trading A Little Bit after that wholesale price data came in a little bit hotter than expected ftse. Thats all we have time for. Stay with us here on bbc news. Thanks for watching. Hello from the bbc sport centre, i am hello from the bbc sport centre, Iam Hugh Hello from the bbc sport centre, i am hugh ferris. Hello from the bbc sport centre, Iam Hugh ferris. Mikel arteta recently asked Arsenal Fans to stay calm about his Contract Situation amid uncertainty about his future but it seems we have had the answer, the manager has signed answer, the manager has signed a new three Year Deal to stay at the emirates until 2027. He had just entered the final year of hiS Previous contract, bringing the Fa Cup back in 2020 and back to finishes behind Manchester City who he left to became the Arsenal Boss in 2019. The deal was announced before the north London Derby on sunday against tottenham. I think it is about taking the next step for arsenal. It is symbolic it comes before the north London Derby but three years is a long time, it wont be defined by what happens in that game, it is more about his legacy will be can he win trophies, can he take arsenal. They havent won the league for 20 years, can he take them to win the title finally . That is the next step for arsenal, finally . That is the next step forarsenal, can finally . That is the next step for arsenal, can they do it, can they go one better . They have come close to Manchester City, finishing two points behind them in the table last season but they want to win trophies, the premier league, and who knows, maybe europe. Ahead of Tottenhams Game against arsenal, their midfielder has been charged by the fa for using a racial slur about his team mate. He later apologised, saying his comments were a very bad joke, the fa said the uruguay international
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