CNBC Daily Open: Markets have finally processed the good news

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

New highs 
U.S. stocks rallied on Thursday. The S&P 500 and Dow Jones Industrial Average marked new record closes, while the tech-heavy Nasdaq Composite had its fourth-best day this year, fueled by a rally in tech. Asia-Pacific markets mostly rose Friday. Japan's Nikkei 225 added around 1.7% as the country's core consumer price index rose an expected 2.8% year on year. 

Steady rates in China and Japan  
Two major central banks in Asia made interest rate decisions on Friday.The People's Bank of China left its one-year and five-year loan prime rates unchanged at 3.35% and 3.85% respectively, defying expectations.The Bank of Japan also kept rates steady at "around 0.25%," a move that was in line with Reuters poll estimates. 

Tech surges  
After taking a day to digest the U.S. Federal Reserve's rate cut, investors flocked to tech stocks. On Thursday, Tesla soared 7.4%, Nvidia popped 4% and Apple jumped 3.7%. Lifted by those stocks, the Nasdaq rose 2.5%, its fourth-biggest single-day gain in 2024. Its sharpest rally this year was a 3% increase on Feb. 22.  

"Recalibration" 
Fed Chair Jerome Powell's use of the word "recalibration" seemed to reassure investors that the central bank's 50 basis point cut wasn't thatworrying. It signaled the Fed wasn't responding to a slowing economy, but shifting focus to ensuring employment doesn't dip further, wrote CNBC's Jeff Cox.   

[PRO] Commodity price movements 
Stocks have rallied on the back of the Fed's rate cut. Lower rates tend to increase demand for commodities