On June 24, 2024, the Nasdaq Composite fell 0.84%, pressured by significant declines in technology stocks, including Apple, Meta, and Oracle, each down over 1%. Nvidia also faced challenges, losing nearly 2%. CEO Jensen Huang announced that Nvidia has $500 billion in business for 2025 and 2026, leading investors to scrutinize upcoming third-quarter earnings for indicators of 2026 growth. Analysts warn that any underwhelming guidance could severely impact market sentiment. Despite the current tech sell-off attributed to high valuations, analysts like Canaccord’s Michael Graham foresee a potential year-end rally. HSBC’s Max Kettner concurs, suggesting a higher likelihood of an equity market surge compared to an AI bubble burst. In other news, Alphabet shares rose amid Berkshire Hathaway’s stake acquisition, and India announced a significant energy deal with the U.S. Meanwhile, Bitcoin’s downward trend could signal broader issues for U.S. stocks, although some expect bullish trends to persist.
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