In the latest market update, stocks have largely moved higher, signaling a potential recovery for the S&P 500 and Nasdaq, which has been struggling after previous losses. The Dow, meanwhile, remains just below the flat line, indicating a more subdued performance.
Nvidia shares have witnessed a rebound after a sharp decline last week. The chipmaker’s substantial investments in artificial intelligence companies, including OpenAI and Alibaba, had previously raised alarms among investors regarding circular financing and concerns over unsatisfactory AI revenue. However, the market has since stabilized, with Nvidia shares climbing over 2% today.
Conversely, Intel’s stock performance appears to have hit a temporary setback. After a remarkable surge of over 20% in the previous week, shares have dipped around 2%. Reports of Nvidia’s $5 billion investment alongside news that Intel is seeking additional partnerships with Apple had fueled the earlier gains. A note from Deutsche Bank has commented on Intel’s latest moves, stating that CEO Lip-Bu Tan is aggressively focused on reinforcing the company’s balance sheet, regardless of the potential risks involved.
In a surprising turn in the cannabis sector, stocks are soaring following former President Trump’s recent comments promoting the health benefits of CBDs for seniors. Companies in the space have seen dramatic increases: Tilray is up approximately 40%, Aurora Cannabis has risen more than 20%, and Canopy Growth has gained around 15%. This unexpected endorsement seems to have spurred renewed interest and optimism in the cannabis market.
