STOCK MARKETS: Tech Giants Awakening?

By Staff Reporters

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  • Last week, investors shrugged off debt ceiling worries to send the S&P and the NASDAQ to their best weekly performance since March. Tech stocks have posted impressive gains this year thanks to the hype around artificial intelligence:
  • Four giants that have made a big deal about investing in AI—Meta, Alphabet, Microsoft, and Nvidia—have surged in 2023 and now account for ~15% of the S&P 500’s market capitalization, according to Barron’s.

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DAILY UPDATE: Easter Sunday Market Wrap-Up

By Staff Reporters

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According to the Financial Times, just 20 stocks account for almost 90 per cent of the US benchmark index’s $2.36tn gains so far this year, as instability in the banking sector has driven down interest rate expectations and boosted the attraction of Big Tech.

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Among the big gainers, shares in chip-maker Nvidia have climbed by 83 per cent so far this year, while Facebook owner Meta is up 76 per cent and Salesforce has climbed 42 per cent, underlining the heavy concentration in the world’s most influential stock market. The market value of those and the other 17 best performing stocks in the S&P 500 have surged by $2.05tn in 2023. Apple’s valuation alone has shot up by almost $600bn, or 30 per cent, in the past three months.

And, according to Yahoo Finance, the market capitalization of the other stocks in the index — which is up almost 7 per cent so far in 2023 — has risen just $320bn over the same period.

Finally, according to private equity firm Apollo Global Management and ignoring gains for mega-cap growth stocks, the S&P 500 rose just 1.4 per cent in the first three months of 2023, said UBS.

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DAILY UPDATE: The Metaverse, Nvidia, Tesla and Mixed US Equities

By Staff Reporters

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Microsoft (MSFT) ended a project that aimed to encourage the use of the Metaverse in industrial environments just four months after it was formed, according to a new report by The Information. The 100 members of the team have been laid off as the company wants to prioritize shorter-term projects over those needing longer to generate meaningful revenue.

Tech, led by Nvidia and Tesla, had it better than other sectors.

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U.S. equities finished mixed, as investors digested the highly anticipated Consumer Price Index report, and its potential impact on the Fed’s future monetary policy decisions. The headline rate and core rate—excludes food and energy—both rose in line with estimates, but on a year-over-year basis inflation came in slightly hotter than expected. In other economic news, small business optimism rose slightly less than anticipated, and remained below its 48-year average for the thirteenth month in a row.

Earnings results were mixed, as Marriot International and Dow component Coca-Cola both bested EPS estimates and provided upbeat outlooks, while Restaurant Brands International missed earnings expectations, but increased its quarterly dividend.

Treasury yields were higher following the inflation data, and the U.S. dollar nudged lower, while crude oil prices fell, and gold was modestly higher in choppy trading. Asian stocks were mostly higher as markets in the region awaited the CPI report, while European stocks mostly added to its strong year-to-date gains amid the inflation data.

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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DAILY UPDATE: ARK Invest and Nvidia Corp.

By Staff Reporters

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Last week was a rough one in the stock market, and this week could be even worse. The inflation report Thursday, and another group of earnings will give investors plenty of new information to absorb. Finally, Warren Buffett reported his company’s earnings over the weekend as Berkshire’s $109 billion cash pile has ballooned thanks to rising interest rates.

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Cathie Wood is once again offloading shares in her long-time favorite Nvidia Corp., as a slight rebound emerged ahead of the company’s earnings. Her flagship Ark Innovation ETF sold 167,914 shares on Friday, adding to a sale of 50,252 shares on Oct. 20, according to Wood’s firm Ark Investment Management LLC’s daily trading disclosures.

Meanwhile, the Ark Next Generation Internet ETF sold 24,423 Nvidia shares on Thursday. Ark’s latest sales come days ahead of Nvidia’s third-quarter earnings — scheduled for Nov. 17 — similar to the prior quarter when the funds dumped the stock before the chipmaker reported revenue forecast that was about $1 billion short of the average Wall Street estimate. The stock has rebounded 26% from a more than two-year low on Oct. 14 to $141.46. That’s above the average closing price of $131.74 in September, when ETFs controlled by ARK Investment Management LLC picked up more than 400,000 Nvidia shares throughout the month. 

Still, Nvidia is down more than 50% this year as historical tightening by the Federal Reserve and global recession fears have continued to batter growth stocks.

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BUSINESS MEDICINE: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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NVIDIA: Capitalization Down!

By Staff Reporters

Nvidia, which was once in the Top 10 of the most valuable companies in the world was ejected from this club. The chipmaker ranks now 21st, as its market capitalization has shrunk by $431 billion.

Indeed, at the start of 2022, the Nvidia’s market value was approximately $732 billion. It is now only $301 billion. It’s a disaster for the shareholders of the group.

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FINANCE: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Stock MARKET Update

ALL TIME HIGHS?

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  • Markets: The S&P begins the week after closing at an all-time high last Friday. The index has closed at a record more times this year (67) than in any other year since 1995. It needs 10 more to tie the mark.
  • More S&P fun facts: Microsoft, Alphabet, Apple, Nvidia, and Tesla alone account for over a third of the S&P’s gains this year.
  • CITE: https://www.r2library.com/Resource/Title/082610254

NOTE: 35,630.18market open‎-340.81 (‎-0.95%)as of 12/13/2021, 11:31 AM EST

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