Daily Market Report

Daily Market Report | May 30, 2023 US FINANCIAL MARKETBig Tech Powers Stock Gains as Bond Yields Slide: Markets Wrap - Bloomberg, 5/30/2023A rally in some of the world’s largest technology companies drove gains in US stocks as Treasury yields fell on hopes that Congress will pass a debt-ceiling deal to head off a default.The artificial-intelligence hype continued to fuel appetite for tech shares, with the Nasdaq 100 climbing for a third straight session and heading toward one of its best first five months of a year in the past quarter century.The S&P 500 rose 0.3%. The [...]

Daily Market Report | May 26, 2023 US FINANCIAL MARKET AI Frenzy Extends Rally, Propelling Stocks Higher: Markets Wrap - Bloomberg, 5/26/2023 The frenzy surrounding artificial intelligence led another day of gains in the stock market as traders were also growing more confident a deal on the US debt limit would be reached. The S&P 500 rose 1% and the tech-heavy Nasdaq 100 added 1.9% as Marvell Technology said 2024 revenue would “at least double” from a year ago on a surge in demand from AI, echoing sentiments from Nvidia on Thursday. Shares of [...]

Daily Market Report | May 25, 2023 US FINANCIAL MARKET Stocks Rise as AI Euphoria Outweighs US Debt Risks: Markets Wrap - Bloomberg, 5/25/2023 US stocks rose Thursday as a rally in companies linked to the frenzy in artificial intelligence outweighed broader market concerns including a US debt default. The S&P 500 gained 0.4% while the tech-heavy Nasdaq 100 added 1.7% after a bullish sales forecast from Nvidia ignited gains in the tech sector. The Dow Jones Industrial Average fell 0.3%. Shares of Nvidia soared 25% after the company’s forecast related to AI demand [...]