AI theme remains on track, buy the dip in S&P 500
In the latest Daily Market Notes report to investors, analysts at Navellier & Associates said strong earnings reports from Microsoft impacting Nvidia’s stock earlier, reassurances from major tech firms about significant investments in AI infrastructure led to NVDA’s rebound to $873.
“It was very important for big tech earnings to come in strong, as they not only have a major weight in the indexes, they have an even bigger portion of the overall earnings,” the analysts said.In the broader market, fears of high Personal Consumption Expenditures inflation numbers eased as both headline and core PCE for March aligned with forecasts, providing relief to the bond market.
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