Nvidia remains in the spotlight, and the Biden administration adds Apple to the hit list


Nvidia remains in the spotlight, and the Biden administration adds Apple to the hit list.

Wall Street lowered this session but is still ahead of its weekly gains to set for the best weekly gains this week. Unlike the two previous sessions, the stock market’s main indicators were down today due to the market’s risk appetite. As expected, risk appetite remains upbeat after the U.S. central bank announced that they will keep interest rates and projections at least three times this year. This announcement was long forecasted by Goldman Sachs analysis, which predicted three consecutive rate cuts this year: June, September, and December.

Fed Chair Jerome Powell’s comments on the inflation trajectory toward the 2% target increase expectations for rate cuts starting in early June. As for market strategies and estimation, due to last week’s PPI and CPI reports, marketers had a 59% probability of June’s intraday cuts. This week, that probability jumped to a solid 74% hours after Fed Chairman Jerome Powell commented.

Meanwhile, investors are still assessing and digesting the data, and the market risks are high, especially in the equity market, which presents a challenge. Furthermore, investors will pay close attention to the central bank’s comments, which usually indicate the Fed’s next move.

On the subject of individual stocks, tech stocks are in the spotlight, and this time it’s about Nvidia and Apple. Nvidia, the tech giant, announced that it will start shipping its new AI chips later this year. The company stock price remains higher, but the tech stock composite is down. Apple, on the other hand, just hounds the hit list. The fight between the Biden administration and tech stocks seems to have never ended; last year, Google Inc. was on the hit list, and this week, Apple joined the mega tech companies that the Bloomberg administration seems to disagree with certain aspects of how they operate.’

“Apple has employed a strategy that relies on exclusionary, anticompetitive conduct that hurts both consumers and developers,” says the U.S. law attorney accusing the company. As a result of this accusation, Apple’s shares dipped by 4% this week. erasing over $110 billion in market value and bringing the stock’s year-to-date loss to 11%.

Plus, FedEx (NYSE: FDX) jumps over 8% on stronger-than-expected earnings and approval of a $5 billion share buyback. Nike (NYSE: NKE) plunges over 8% following a revenue warning. Lululemon Athletica (NASDAQ: LULU) drops 14% due to weak annual revenue guidance.

Meanwhile, the S&P 500 benchmark was down by 0.05% to 5,238.60 basis points. Deposit Apple Crisis The Tech Haedvy Composite managed to keep some gains after midday trading hours. The index was up by 0.25% at 16.444.68 basis points. The Dow Jones Industrial Average slides down by 0.48% to 39.591.40 basis points. Ross Mayfield is an investment strategy analyst at Baird. Comment on these gains and say, “It’s been a strong week with some good macro drivers in the form of central bank dovishness.” The dollar index keeps gaining money despite market forces that indicate it will fall. The index ranged from the previous 103 to the recent 104.

Written by Editor

Leave a Reply

Your email address will not be published. Required fields are marked *

interest rate by three quarters

Wall Street’s major indicators edge higher despite increasing inflation, interest rate cuts, and uncertainties

U.S. economy

The U.S. economy had a better-than-expected fourth quarter, and Wall Street is about to end its best quarterly session in years