business
breaking news Nasdaq surges as AI boom sizzles
The Nasdaq Composite is up 1.9% and hits a session high. The catalysts today are positive signs on the US debt ceiling as well as a very strong earnings report from Nvidia, with the company’s shares up 26%.
The AI boom is in full swing and now the Nasdaq is a shadow away from the May high and the best levels since last August.
Comp Nasdaq
While this is an impressive move, it will take a lot more than AI to put the Nasdaq back at the top of the chart. What might help would be lower inflation and a pivot from the Fed. That will come one day and make the Nasdaq a tempting buy, although it’s far from clear that a pivot is coming anytime soon.
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