S&P 500 lyfter över 5.600 punkter Fang down $1.1 trillion
$1.1 trillion off ‘Magnificent Seven’ market cap in 5 days
The seven Big Tech companies collectively have shed more than $500 billion in market cap on Wednesday alone
MarketWatch 17 July 2024
Nasdaq has worst day since 2022
The main selling point of hedge funds to the wealthy investors they cater to is that they are managed in such a way that they can thrive even when the broader market is struggling.
That wasn’t the case on Wednesday.
Earlier below
Samtliga ”magnificent seven” bolag stänger på plus under onsdagen.
Inledningsvis backade Amazon något med stiger mot slutet av handelsdagen.
De stora drivarna ungefär halvvägs in i handelsdagen är fortsatt it- och halvledarsektorn. Chipbolaget AMD stiger 3,2 procent, men även halvledarbolaget Micron Technology är upp nästan 3 procent
Samtliga ”magnificent seven”-bolag ökar under onsdagshandeln, med undantaget för Amazon, som backar något.
Börsjätten Nvidia är i topp och tätt bakom ligger Apple och Meta.
S&P 500 har stigit med nästan 30 procent i år
DI 10 juli 2024, 19:07
This chart from Apollo Group’s Torsten Slok compares an “S&P 7” index with an S&P 493 that includes all the rest.
The gap is astonishing:
When and if the so-called Other 493 join the top-heavy rally has become a key focus for money managers.
Analysts are starting to express concerns about AI
After 18 months of hyping up artificial intelligence and its potentially transformative impact on both corporate profits and human productivity, Wall Street appears to be turning more skeptical.
Analysts have been lately taking a hard look at the numbers underpinning the technology. What they found is that the massive investment in capital expenditures being undertaken by “hyperscalers” — like Microsoft, Amazon and Alphabet with large cloud-services businesses — could take longer to pay off than expected, if ever.
Some analysts even questioned the central premises of the “AI revolution,” with Goldman Sachs’ Jim Covello, the bank’s global head of equity research, expressing doubts that the technology will be as profitable, or influential, as its boosters claim.
MarketWatch 10 July 2024
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