[Chart courtesy of MarketWatch.com] A choppy opening marked the first day of trading in July. Despite tech stocks edging higher there seemed to be some rotation out of that sector, as Nvidia slipped some 3% and leading other compatriots like AMD and Broadcom lower. While some traders might dismiss the AI development as just another temporary mania, I think it …
S&P 500 Nears Year-End Predictions Amidst Housing Market Collapse And Inflation Fears
[Chart courtesy of MarketWatch.com] Two of the three major indexes slipped early on, while the Nasdaq powered higher, as Nvidia edged up another 1% on top of Tuesday’s 7% gain. However, it had given most of it back by the time the closing bell rang. The MAG 7 stocks bucked that wild ride and continued yesterday’s path higher on a …
Mixed Economic Signals As Tech Rises And Consumer Confidence Wavers
[Chart courtesy of MarketWatch.com] A rebound in the tech sector helped the S&P 500 and Nasdaq to find some footing, with both indexes starting and ending the session on a positive note. Nvidia gave a much-needed assist by bouncing back from its latest slide, as did the MAG 7 stocks. The recent sell off pushed the AI darling more than …
Economic Crossroads: Inflation Data Looms As Gold And Oil Rally, Bitcoin Bruised
[Chart courtesy of MarketWatch.com] The Nasdaq was lagging as today’s session got underway with traders rotating out of the overbought tech sector and into financials, utilities, and energy, with oil climbing above the $81 level. Only the Dow managed a green close. Nvidia dropped some 5% on top of last week’s 4% decline, after the stock snapped an eight-week winning …
Market Paradox: AI Surge And Nvidia’s Slide Amidst Economic Turbulence
[Chart courtesy of MarketWatch.com] For a moment, we saw the S&P 500 trade above its 5,500 level, as the tech rally continued unabated with Nvidia in the lead. However, during this session the tech darling took a dive and scored its worst day in two months. Is it starting to look toppy? In the end, the S&P 500 and Nasdaq …
Nvidia’s Meteoric Rise Leads Market Rally, Dotcom Déjà Vu?
[Chart courtesy of MarketWatch.com] The major indexes opened slightly higher despite disappointing retails sales. While they rose 0.1% in May, expectations were for a more solid 0.2%. This latest result is a sign that consumer demand is weakening, and this 0.1% growth may simply have been the result of inflation. Rising consumer demand is critical for the markets, because without …