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Stock Market Update: Wall Street Nears the Close of High-Flying ...
2024-06-24 15:04:02

Stock Market Update: Wall Street Nears the Close of High-Flying Q2 Amid Mixed Signals

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As Wall Street approaches the end of a successful quarter, US stock futures show mixed trading with the S&P 500 and Nasdaq posting significant gains driven by AI technology. Companies like Nvidia, while previously strong performers, faced losses after reaching all-time highs.

Investor focus this week centers on US political events and key economic releases including the Personal Consumption Expenditures index. Amidst concerns about inflation and market stall predictions, the stock market sees shifts as traders eye upcoming earnings reports from Micron Technology, FedEx, and Nike, with potential impacts from tech giants like Nvidia.

Related news on that topic:

Nvidia: Dominating the AI Economy and Wall Street

Nvidia, the semiconductor company, is emerging as the hottest stock on Wall Street due to its dominance in artificial intelligence (AI) infrastructure. Analysts predict that Nvidia could be worth $10 trillion by 2030, driven by its position as a leader in AI processors and its expansion in other areas of the AI economy. With its significant market share in data center GPUs and AI chips, Nvidia is well-positioned to benefit from the projected growth in AI sales. Despite its rapid growth, Nvidia's brand recognition lags behind tech giants like Apple and Microsoft. Nevertheless, its compute and networking segment, which includes AI and robotics businesses, has already generated billions in revenue. Nvidia's sales growth has been so rapid that Wall Street struggles to keep up, making it challenging for investors to determine its true value. As the AI revolution continues to gain momentum, Nvidia's transformation from a graphics processing company to an AI leader has solidified its position in the industry.

Nvidia's Stock Plunge and Market Cap Erosion: A Comprehensive ... Overview

Nvidia's recent stock plunge has led to a substantial erosion of its market capitalization, shedding over $200 billion in just two trading sessions. The company briefly held the title of the world's most valuable publicly traded company but now ranks third behind Apple and Microsoft. The sell-off coincided with triple witching day, prompting speculations about the market's future movements. Despite the setback, experts remain optimistic about Nvidia's potential, with projections suggesting a 10-15% market weighting by 2030 based on AI advancements. Nvidia's dominance in AI-chip production has positioned it to potentially reach a market value of $4 trillion, highlighting the pivotal role of AI in driving chip sales and market performance.

Read 2 more recent news on this topic

The press radar on this topic:

The Street
1. Juli 2024 um 14:17

Are stocks about to stall?

Finance
Economy
Stocks have been on a roll with record highs, but some analysts predict a stall in the market. Comparisons are drawn to past market stalls in 2007, but the current market conditions are different. Tech stocks, particularly Nvidia, have been leading the gains while other sectors lag behind.
The Street
25. Juni 2024 um 00:18

Stock Market Today: Stocks slip lower into 'triple witching hour'

Finance
Stocks slipped lower on Friday into 'triple witching hour' with U.S. equity futures nudging down. Investors are closely watching megacap tech moves and S&P Global's benchmark PMI reading for June, as well as the impact of around $5.5 trillion in options expiring. The market's key volatility index, the VIX, is expected to see increased daily swings for the S&P 500 over the next 30 days.
Yahoo Finance
24. Juni 2024 um 12:19

Dow Jones Futures: Nvidia Skid Raises Questions, 3 Stocks Near Buy Points; Fed Inflation Gauge Ahead | Investor's Business Daily

Finance
Technology
Economy
Dow Jones futures are set to open alongside S&P 500 futures and Nasdaq futures, with Micron Technology earnings and the Fed's inflation gauge being key events this week. The stock market rally saw gains last week, with the S&P 500 and Nasdaq composite reaching all-time highs. However, there was weakness towards the end of the week, particularly in AI chip plays like Nvidia and Broadcom. Carnival, FedEx, and Nike will also report this week, providing insights into the economy and consumer spend..
The Street
26. Juni 2024 um 11:19

Micron, inflation, and Biden-Trump debate will rock markets

Finance
Technology
Economy
Nvidia's stock fell 4% last week, ending a strong runup that saw the company's market cap surpass Microsoft and Apple. The big question now is whether an Nvidia-led downturn will affect the entire market, considering the company's significant presence in the S&P 500. This week, investors will also be closely watching the earnings reports of Micron Technologies, FedEx, and Nike, as well as the release of the Personal Consumption Expenditures Report for May.
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