Market Overview
The U.S. equity markets are exhibiting a defensive posture, with investors navigating a dense earnings season [3]. Despite this, AI optimism and peace hopes have helped offset labor data concerns, leading to modest gains [6]. The S&P 500 closed lower, however, as chip stocks like Intel and Arm Holdings retreated [7].
AI Trends
Jim Cramer expressed confidence in the power of the artificial intelligence boom to keep driving stocks higher [1]. Paul Tudor Jones predicts two years of growth for the AI market rally, likening it to late 1999 [10]. NVDA has secured a $3.4bn AI Cloud Contract and a 5GW Strategic Partnership [2].
Stocks To Watch
Tesla, Inc. looks overvalued due to falling auto deliveries and profits, as well as unproven big AI/robotaxi capex [5]. META has been reaffirmed as a Buy with a reduced price target [11]. GOOGL has seen its price target lifted by Scotiabank [12].