Wall Street’s major stock indices closed sharply higher on Thursday, buoyed by AI fueled optimism following chip giant Nvidia’s upbeat earnings. The S&P 500 surged 2.1%, reaching a new record high, while the Nasdaq booked its largest one-day gain since February 2023, climbing almost 3%.
Simultaneously, the Dow Jones popped 456 points, breaching the 39,000 level for the first time in history to close at a new high. Nvidia soared 16.4% to $785.38, pushing its market capitalization beyond $1.9 trillion after exceeding quarterly expectations. This performance reflected growing confidence in AI and demand for its specialized chips.
Nvidia’s stock saw a historic one-day gain, adding $250 billion to its market value. Consequently, other chipmakers, such as Advanced Micro Devices (10.6%), Qualcomm (1.8%), and Micron (5.4%) also rose sharply. Meanwhile, Salesforce was the best performer in the Dow Jones, surging 3.5%.
” new record high”
They got their headline ...
missed on the NDX by about 4 pts ...
I saw your 17000 NDX call .... that’s even crazier than me .. ha ha ... at least I won’t be the only one hanging my head if this thing moon shots ...
I think I still have about a little over a week on my
NDX 20000 ... but will we see that 17500 again before that?
Should I go check the tea leaves go check the tea leaves?
oops ... I remember ... your a coffee drinker ..
ya that’s right ... I said it twice ...
“...by AI fueled optimism”
Sounds 2000-ish
or 2008-ish
or 2020-ish
Had a co-worker say “it’s 2024 and they won’t let markets go down in an election year”
Ok, good to know.
Some markets have 24 hr. access. A stop loss exit won’t execute before a gap down opening.
I’m in cash right now. Especially considering current news about loopy AI performance which is apparently just the subjective reflections of the programmers’ bias.