The trader works on the floor of the New York Stock Exchange.
NYSE
Stock futures were hardly changed on Tuesday night S&P 500 He was pulled back from record levels and snapped his three-day winning streak.
Futures linked to the Dow Jones Industrial Average It rose 18 points or 0.04%. S&P futures It was 0.06% higher Nasdaq 100 futures It rose 0.09%.
In trading outside of business hours, stocks Micron Technology It earned over 2% on a background of better revenue than expected and strong forecasts. The artificial intelligence boom saw a 46% increase in micron revenue.
The results of major memory chip makers follow a trading session dominated by the growing fear of the cyclicality of the AI industry caused by the Nvidia-Openai partnership. Major AI Player Stocks nvidia and Oracle He fell on Tuesday.
S&P 500 It reached a new all-time high early in the session, closing in a red, down 0.6% on Tuesday after hitting a record from the previous day. Nasdaq Composite fell nearly 1%, down by a 2.8% loss in Nvidia’s stock, prompting questions about whether there was enough energy to run the planned data centers a day after the chipmaker announced a massive investment in Openai.
Traders can also make profits amid rising market valuations.
Wells Fargo’s chief equity strategist Ooznkwon expects spending to remain strong and remains bullish in AI trade. “I think this is an AI-driven bull market and I think this is likely to continue,” he said Tuesday on CNBC’s “Power Lunch.”
“First of all, it’s not a bubble,” Kwon continued. “The Nasdaq’s overall outperformance since the end of the high-tech bubble has been driven by the Nasdaq’s better foundations against the S&P 500. I think it’s likely to follow the second.
