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How do you spell B-I-F-U-R-C-A-T-E-D?

hank
edited May 2023 in Other Investing
I can’t remember such a bifurcated market as in recent days. The S&P has been positive all day with the Dow running in reverse. The bigger news is the NASDAQ, up 250+ points or 1.6% today alone (at noon) and far outdistancing the Dow & S&P to date. Bloomberg’s talking heads (always a suspect source) are using the word “chasing” a lot today in trying to analyze recent investor behavior. I tend to agree. But, what’s new there?

The NASDAQ is benefiting from a double-digit rise in Nvidia, which reported strong earnings yesterday after the markets closed. Gold and precious metals continue to sink, with gold now below $1950. Miners (GDX) are off another 1.90% today after a 2.3% drubbing yesterday. Oil is also getting burnt today.

Recall that recent thread: “Gold is breaking out … “ ?

Comments

  • yogibearbullyogibearbull
    Generative AI (ChatGPT, Bard etc) is benefitting the big techs - MSFT, GOOGL, NVDA, etc. Of course, NVDA (semi-chip designer) jumped today on huge beat on sales and profits due to high demand from AI, and the related stocks TSM (semi-chip manufacturer) and ASML (advanced semi-chip equipment) have also moved up. This is more due to company/sector specific news.
  • hank
    edited May 2023
    yogibearbull said:

    Generative AI (ChatGPT, Bard etc) is benefitting the big techs - MSFT, GOOGL, NVDA, etc. Of course, NVDA (semi-chip designer) jumped today on huge beat on sales and profits due to high demand from AI, and the related stocks TSM (semi-chip manufacturer) and ASML (advanced semi-chip equipment) have also moved up. This is more due to company/sector specific news.

    Yep. Should have seen it coming …
  • racqueteer
    It’s a crazy situation. We have maybe ten stocks carrying the market, and everything else throwing warning signals. Not only are those ten priced for perfection, but actually priced as if nothing could possibly go wrong! Where is that downturn which fundamentals suggest should be coming?
  • Baseball_Fan
    Nvda gained more market cap in one hour than total market cap of AMD

    Please don't tell me this stock market is anything but insane....and you're supposed to fund your retirement by quote investing end quote in it
  • hank
    Baseball_Fan said:

    Nvda gained more market cap in one hour than total market cap of AMD

    Please don't tell me this stock market is anything but insane....and you're supposed to fund your retirement by quote investing end quote in it

    Recent market activity, including Nvidia and some regional banks, makes casinos look tame by comparison.
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