Here's what is happening in the markets today, Thursday August 1st

- S&P 500 soars and has best day since February

- Fed Decision: Interest rates maintained, hints at possible September cut

- Inflation update: Fed notes progress on inflation, eyes 2% target closeness.

- Tech stocks rally: Nvidia (NVDA) up 12.8%

- Meta (META) jumps after earnings beat

- Gold hits record high

PLUS: How we trade these markets and our current positions

This wraps up today's stock market news.

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