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☆ Dispute Over Conscription for Ultra-Orthodox Jews Presents New Threat to Netanyahu
▼ + stars: | 2024-03-30 | by ( Patrick Kingsley | Johnatan Reiss | ) www.nytimes.com time to read: +1 min

Prime Minister Benjamin Netanyahu is facing his most challenging political threat since the start of the Gaza war because of a disagreement among members of his coalition about whether ultra-Orthodox Jews should retain their longstanding exemption from military service. An unwieldy right-wing alliance of secular and ultra-Orthodox lawmakers, the coalition’s members are divided about whether the state should continue to allow young ultra-Orthodox men to study at religious seminaries instead of serving in the military, as most other Jewish Israelis do. If the government abolishes the exemption, it risks a walkout from the ultra-Orthodox lawmakers; if it lets the exemption stand, the secular members could withdraw. Criticized by many Israelis for presiding over the October disaster, Mr. Netanyahu is trailing in the polls and faces growing calls to resign. The end of the coalition would most likely lead to new elections, and polling suggests that Mr. Netanyahu would not win.

Persons: Benjamin Netanyahu, Netanyahu, Mr Locations: Gaza, Israel, Hamas’s

Most Jewish men are required to serve nearly three years in the military, followed by years of reserve duty. Netanyahu asked the court Thursday for a 30-day extension to find a compromise. Israel’s Channel 12 reported Friday that the state provides only 7.5% of all funding for the institutions. “Without the Torah, we have no right to exist," said Yitzchak Goldknopf, leader of the ultra-Orthodox party United Torah Judaism. But the powerful bloc of ultra-Orthodox parties — longtime partners of Netanyahu — want draft exemptions to continue.

Persons: —, Benjamin Netanyahu's, Netanyahu, David Ben Gurion, Anshel Pfeffer, Israel's, “, ”, Aryeh Deri, Haredim, Yitzchak Goldknopf, NETANYAHU, Benny Gantz, Netanyahu — Organizations: JERUSALEM, Jewish, Haaretz, Shas, Cabinet Locations: Gaza, Israel, Jewish

☆ Turkey's local elections — and whoever wins Istanbul — could dictate the future of the country
▼ + stars: | 2024-03-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

As the sunsets, a ferry boat glides across the waters of the Golden Horn with the Suleymaniye Mosque and the city of Istanbul, Turkey in the background. Vw Pics | Universal Images Group | Getty ImagesTurkish President Recep Tayyip Erdogan once said that whoever wins Istanbul wins Turkey. This is odd but also shows how important it is to win Istanbul," Tunca said. Major Turkish cities like Istanbul and the capital Ankara will be key races to watch. Istanbul Municipality Mayor Ekrem İmamoğlu speaks at the 19 May Commemoration of Atatürk, Youth and Sports Day celebrations held at the Maltepe Event Area on May 19, 2023 on Istanbul, Turkey.

Persons: Recep Tayyip Erdogan, Imamoglu, Erdogan, People's Party's, Murat Kurum, Arda Tunca, Volodymyr Zelenskiy, Tayyip Erdogan, Umit Bektas, Tunca, Kristin Ronzi, RANE, Erdogan's, Ekrem İmamoğlu, Hakan Akgun, Turkey's, Ronzi Organizations: Getty, Istanbul, sympathizing, Development Party, AK Party, Imamoglu, AK, CNBC, European Union, NATO, Reuters, Party, Imamoglu's CHP, Turkey's, CHP Locations: Istanbul, Turkey, Ukraine, Russia, Arab, Turkish, Ankara, East, North Africa

☆ The wealth of the 1% just hit a record $44 trillion
▼ + stars: | 2024-03-28 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Middle-class Americans have also seen a rising wealth tide, with the middle 50% to 90% of Americans seeing their wealth increase 50%. The value of corporate equities and mutual fund shares held by the top 1% surged to $19.7 trillion from $17.65 trillion the previous quarter. The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter, as an end-of-year stock rally lifted their portfolios, according to new data from the Federal Reserve. Economists say the rising stock market is giving an added boost to consumer spending through what is known as the "wealth effect." "Of course, this highlights a vulnerability of the economy if the stock market were to falter.

Persons: Robert Frank, Mark Zandi, Zandi, Liz Ann Sonders, Charles Schwab, – Sonders Organizations: Federal Reserve, Moody's, Stocks, Conference Board Locations: U.S

☆ Here are Thursday's biggest analyst calls: Nvidia, Meta, Tesla, Apple, CyberArk, Grindr, Estee Lauder & more
▼ + stars: | 2024-03-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Wells Fargo reiterates Bank of America as overweight Wells Fargo raised its price target on Bank of America to $44 per share from $40. HSBC downgrades Bank of America to hold from buy HSBC downgraded Bank of America mainly on valuation. Benchmark reiterates Nvidia as buy Benchmark said it's standing by its buy rating on Nvidia. Bank of America reiterates Amazon as buy Bank of America said it's bullish on Amazon's investments in AI. "We are initiating coverage on CYBR with a Buy rating and a $317 PT."

Persons: Wells Fargo, Bernstein, it's, Goldman Sachs, Tesla, Goldman, Piper Sandler, Piper, Clark, Kimberly, Claude, Estee Lauder, BTIG, TD Cowen, Cowen, Grindr, William Blair, Bentley, Morgan Stanley, JPMorgan, KeyBanc, Oppenheimer, Monness Crespi Hardt downgrades Palantir, Palantir Organizations: Bank of America, FDIC, Apple, HSBC downgrades Bank of America, HSBC, of America, PNC, Tesla, EV, Kimberly, Nvidia, Amazon, Bentley Systems, Allstate, JPMorgan, Major Pharma, Citi, Boeing, Barclays, Meta, SNAP Locations: mkts, DraftKings

☆ The market is near all-time highs. That doesn't mean it can't go much higher
▼ + stars: | 2024-03-27 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Looking at the recent performance of the market and several stocks in our portfolio, one thing is clear: This is a market that wants to go higher. We would much rather see stocks up on strong earnings instead of rising on lower rates that are only lower because the operating environment is deteriorating. But it's important to understand, at a high level, what kind of market we are still in — a bull market seeking new heights. We are fielding a lot of questions about how one should approach a market near all-time highs. Now, that doesn't mean stocks are on a one-way march higher and a pullback is impossible.

Persons: Jerome Powell, we've, We're, We'll, it's, –, Morgan Stanley, Coterra, Jim Cramer's, Jim Cramer, Jim, Erik McGregor Organizations: Federal Reserve, Fed, Linde, DuPont, Coterra Energy, Jim Cramer's Charitable, CNBC, Financial, LightRocket, Getty Locations: —, U.S, Russia, Ukraine, China, Taiwan, New

☆ Expect tech to continue to benefit from secular tailwinds: Principal's Seema Shah
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect tech to continue to benefit from secular tailwinds: Principal's Seema ShahSeema Shah, Principal Asset Management chief global strategist, joins 'Closing Bell' to discuss what fuels the rally in the year's second half, how much rate cuts matter to equities, and the strategist's stance towards small-cap stocks.

Persons: Principal's Seema Shah Seema Shah Organizations: Asset Management

☆ Uttar Pradesh: Court ruling effectively outlaws Islamic schools in India’s most populous state
▼ + stars: | 2024-03-24 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

New Delhi CNN —A court in India’s most populous state has effectively banned Islamic schools by striking down on a law governing madrasas, weeks before a nationwide election that could further polarize the world’s largest democracy along religious lines. The Allahabad High Court in Uttar Pradesh on Friday declared the Madrasa Act of 2004 to be unconstitutional, according to a court order seen by CNN, while ordering the state government to move students enrolled in the Islamic system into mainstream schools. While the Allahabad High Court order cited India’s constitutional separation of religion and state in its reasoning for ruling against madrasas, it is Modi who has been frequently accused by critics of dismantling India’s secular traditions. Many Muslims and critics of the BJP have raised concerns that India’s secular fabric is also being eroded as anti-Muslim hate speech make frequent headlines and Muslim-owned properties face demolitions. In December 2020, the northeastern state of Assam passed a law to convert all Islamic schools to regular education institutions.

Persons: New Delhi CNN —, madrasas, ”, Narendra Modi’s, Iftikhar Ahmed Javed, Modi, Himanta Biswa Sarma, Debabrata Saikia Organizations: New, New Delhi CNN, CNN, Bharatiya Janata Party, BJP, Reuters, madrasas Locations: New Delhi, India’s, Allahabad, Court, Uttar Pradesh, India, country’s, Assam

☆ How to trade the market after this week's rally to record highs
▼ + stars: | 2024-03-23 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Fed Chair Jerome Powell also noted that a strong labor market wouldn't deter the central bank from cutting rates. Fundstrat's Tom Lee told CNBC he expects the Russell 2000 to rally 50% . "I think the Russell 2000 represents sort of the best of things to happen when the Fed starts cutting." The small-cap Russell 2000 rose 1.6% this week. The iShares Russell 2000 ETF tracks that index.

Persons: Jerome Powell, Blair Boyer, Boyer, Goldman Sachs, Tom Lee, Russell, —, Lee Organizations: Dow Jones, Nasdaq, Federal Reserve, Dow, CNBC, Nvidia, Microsoft, Devices, Visa, Blackwell, JPMorgan, NVIDIA, Fed, GE Vernova, New York Stock Exchange, GE Locations: Jennison

☆ US reindustrialization will be the top investment theme of coming decades, RBA says
▼ + stars: | 2024-03-23 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +4 min

The "US industrial renaissance" will be the top investment theme of the coming decade, Richard Bernstein Advisors said. The trend of American companies shifting away from dependence on foreign labor and supply chains should dominate investment strategies in the coming decades the firm said. "The market is already rewarding the beneficiaries of this capital reallocation, but we expect years, if not decades, of further performance from this critical investment theme," RBA president Richard Bernstein said in a note this week. For the US, that means big investment in infrastructure on manufacturing will be needed in the coming years as the world reorients. "The market has already recognized the re-industrialization investment theme despite investors' myopia with respect to more exciting technology-related themes, like artificial intelligence.

Persons: Richard Bernstein, Overreliance, Bernstein, — Organizations: Richard Bernstein Advisors, Service, Republicans Locations: America

☆ China slams the U.S. for interfering in Arunachal Pradesh border dispute with India
▼ + stars: | 2024-03-21 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

A tableau of Arunachal Pradesh state during the Republic Day parade along Kartavya Path in New Delhi, India, on Friday, Jan. 26, 2024. China slammed the United States for interfering in its border dispute with India, after Washington said it recognized the disputed Arunachal Pradesh as a part of Indian territory. China, which refers to the territory as Zangnan, claims Arunachal Pradesh is part of southern Tibet. India rejects those claims, stating Arunachal Pradesh has always been a part of India. Kugelman pointed out that the U.S. typically refrains from commenting on some Indian border disputes, such as the one with Pakistan over Kashmir.

Persons: Washington, Lin Jian, China's, Narendra Modi, Vedant Patel, Zangnan, Lin, Michael Kugelman, Kugelman Organizations: India's, Foreign Ministry, U.S . State Department, United, LAC, South Asia Institute, Wilson Center, CNBC Locations: Arunachal Pradesh, New Delhi, India, China, United States, Beijing, Indian, Tibet, U.S, Pakistan, Kashmir, Washington

☆ All the big Nvidia calls after AI conference: Goldman raises target to $1,000, JPMorgan sees 'dominance'
▼ + stars: | 2024-03-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Goldman Sachs Goldman Sachs' Toshiya Hari joined a handful of analysts turning more bullish on the chipmaker following the keynote event, boosting the firm's price target to $1,000 from $875. Wells Fargo Wells Fargo analyst Aaron Rakers said Nvidia didn't shock investors with any unexpected updates, but he still raised his price target to $970 from $840. Sur retained his overweight rating and $850 price target. The analyst retained his $1,100 price target and buy rating, citing the company's ongoing leadership within the AI value chain. The analyst retained his outperform rating and $1,000 price target, calling the company's ongoing expansion beyond chips "unmatched."

Persons: Jensen, Blackwell, Hopper, Huang, Morgan Stanley, Joseph Moore, Goldman Sachs Goldman Sachs, Toshiya Hari, Hari, bode, Aaron Rakers, NVDA, Morgan Stanley Morgan Stanley's Joseph Moore, Moore, Harlan Sur, Sur, Bank of America's Vivek Arya, Bernstein, Bernstein's Stacy Rasgon, Taylor Swift Organizations: Nvidia, Wall, Blackwell, Micron Technology, JPMorgan, NVIDIA, Bank of America, Bank of America's, SAP Center Locations: 2H24, Wells Fargo Wells Fargo, San Jose

☆ AI is a 'secular wave' that's going to be very difficult to fight, says Fundstrat's Mark Newton
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is a 'secular wave' that's going to be very difficult to fight, says Fundstrat's Mark NewtonMark Newton, Fundstrat global head of technical strategy, joins 'Squawk Box' to discuss Nvidia's stock performance, the company's valuation, impact of AI on tech stocks, and more.

Persons: Fundstrat's Mark Newton Mark Newton

☆ Here are some of Wall Street’s top derivative plays following Nvidia's latest chip launch
▼ + stars: | 2024-03-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Shares of the chip giant pulled back about 2% during Tuesday's session, after announcing its latest AI chips . While Nvidia's latest announcements solidify the company's AI leadership, Wall Street anticipates some positive tailwinds for a slew of derivative players. Semiconductor derivative plays Nvidia's latest announcements could pose some major tailwinds for companies operating within the chipmaker's ecosystem. Liquid cooling The liquid cooling industry may also benefit as Nvidia harnesses the technology to cool the 72 Blackwell GPUs in its new server rack system, known as GB200 NVL72. "We believe built-in liquid cooling capabilities in addition to the power density of the system should be a positive for VRT's liquid cooling and power management businesses," he wrote.

Persons: Harlan Sur, Blackwell, Rosenblatt, Hans Mosesmann, Goldman Sachs, Toshiya Hari, Matt Bryson, Laura Chen, Oppenheimer, Rick Schafer, Amit Daryanani, Vertiv, Headwinds, Nvidia's Blackwell, Hari Organizations: Nvidia, NVIDIA, Micron Technology, MU, Micron, Taiwan Semiconductor, Wall, Marvell Technology, Blackwell, Micro Computer, Mosesmann, Devices, AMD, Data, Intel Locations: America

☆ There are secular tailwinds for Japanese equities, says Janet Mui
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are secular tailwinds for Japanese equities, says Janet MuiJanet Mui, Head of Market Analysis at RBC Brewin Dolphin, discusses the Fed's monetary policy meeting and how it impacts the markets.

Persons: Janet Mui Janet Mui Organizations: RBC

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Micron, Honeywell, Boeing, Snowflake, Zoom, Best Buy and more
▼ + stars: | 2024-03-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Deutsche Bank reiterates Charles Schwab as buy Deutsche Bank raised its price target on the stock to $77 per share from $75. UBS reiterates Boeing as buy UBS said the risks are already priced in for Boeing shares. Loop reiterates Best Buy as buy Loop said the electronics giant is a "stealth housing play." UBS reiterates Micron as buy UBS said it is standing by its buy rating on the stock heading into earnings on Wednesday. UBS upgrades Cognex to buy from neutral UBS said the systems software company is "high quality growth at a discount."

Persons: Goldman Sachs, Charles Schwab, Bernstein, –, Redburn, Cooper, Jefferies, ZM, Mizuho, Baird, KeyBanc, Raymond James, Morgan Stanley, Stephens, Guggenheim, Wells, Wells Fargo Organizations: Nvidia, Deutsche Bank, Northern Trust Deutsche Bank, Northern Trust, Apple, Google, Barclays, Cooper Companies, Citi, Honeywell, Honeywell International Inc, Union Pacific Corp, Mizuho, UBS, Boeing, Micron, TEAM, Logistics, Industries, JPMorgan, Systems, Bank of America, Avis Budget, OW, Equity, Accenture, Starbucks Locations: Snowflake, 2H24E, Truist

☆ Move over gold, copper is now breaking out, according to the charts. How to play it
▼ + stars: | 2024-03-18 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

The Global X Copper Miners ETF (COPX) offers investors a liquid, cost-effective way to get broad-based exposure to copper mining stocks. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein.

Persons: It's, Katie Stockton Organizations: Copper Miners, Fairlead, CNBC Pro, Securities, ~$ Locations: Canada, U.S

☆ All eyes are on Nvidia this week, but another AI play is getting buzz before earnings
▼ + stars: | 2024-03-18 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Micron touts HBM3E as an essential component to move the needle forward on AI advancement, and so far, analysts agree. Mosesmann's buy rating and $140 per share price target represents 50% upside from Friday's close. The analyst maintains an outperform rating on Micron stock as well as a $120 per share price target, which equates to roughly 29% upside. The firm maintains a buy rating on Micron coupled with a $112 per share price target, more than 20% above the previous close. The analysts raised his price target to $150 from $95, calling for about 61% upside moving forward.

Persons: Rosenblatt, Hans Mosesmann, Mosesmann's, TD Cowen, Krish Sankar, Mehdi Hosseini, Citi's Christopher Danely, Danely Organizations: Micron Technology, Nvidia, GTC Conference, Micro, Analysts, Micron, MU, AMD

☆ Piety and Profanity: The Raunchy Christians Are Here
▼ + stars: | 2024-03-17 | by ( Ruth Graham | ) www.nytimes.com time to read: +1 min

The “Conservative Dad’s Real Women of America” 2024 pinup calendar features old-school images of sexiness — bikinis, a red sports car, a bubble bath. The models are influencers and aspiring politicians familiar to the very online pro-Trump right. In one image, a BlazeTV host in a short skirt lights a copy of The New York Times on fire with a cigar. Published by a “woke-free beer” company hastily launched last year as an alternative to Bud Light, the calendar was clearly meant to provoke liberals. Instead, it sparked a heated squabble on the right over whether “conservative dads” who happen to be Christians should reject the calendar on moral grounds, or embrace it as an irreverent win for the good guys.

Persons: Dana Loesch, “, Bud Light, Allie Beth Stuckey, podcaster Organizations: Conservative Dad’s Real, Trump, New York Times Locations: America

☆ India election: Date set for largest democratic vote in human history
▼ + stars: | 2024-03-16 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

Modi’s Bharatiya Janata Party (BJP) is expected to secure another five years in power, ruling an India that has become increasingly polarized along religious lines. Under Modi’s leadership, India is poised to become a 21st-century powerhouse as its economy rapidly expands. The Indian National Developmental Inclusive Alliance, or INDIA, marked a significant step for an opposition struggling to regain national significance. In August, India made history by soft-landing a rover on the moon, becoming just the fourth nation to do so. The election commission said 968.8 million people have registered to vote in the 2024 polls – a 6% increase from 2019.

Persons: Narendra Modi, Indira Gandhi, Modi, Weeks Organizations: CNN, Modi’s Bharatiya Janata Party, BJP, Indian National Congress, Developmental Inclusive Alliance, Modi’s BJP, Organization for Economic Cooperation Locations: India, Lok, New Delhi, INDIA, Australia, United States, Ayodhya, China

☆ India’s 2024 General Election: What to Know
▼ + stars: | 2024-03-16 | by ( Mujib Mashal | ) www.nytimes.com time to read: +1 min

India is holding its multiphase general elections from April 19 to June 1, in a vote that will determine the political direction of the world’s most populous nation for the next five years. The usually high-turnout affair, which was formally set on Saturday, is a mammoth undertaking described as the biggest peacetime logistical exercise anywhere. Prime Minister Narendra Modi, whose power is well entrenched, is seeking a third term. But his push to reshape India’s secular democracy as a Hindu-first nation has aggravated the religious and ethnic fault lines in the hugely diverse country. In a region of frequent political turmoil, India is deeply proud of its nearly undisrupted electoral democracy since its founding as a republic more than 75 years ago.

Persons: Narendra Modi Locations: India

The court ruled 4-3 that the Superior-based Catholic Charities Bureau and its subentities' motivation to help older, disabled and low-income people stems from Catholic teachings but that its actual work is secular. Every Catholic diocese in Wisconsin has a Catholic Charities entity that serves as that diocese's social ministry arm. The Catholic Charities Bureau is the Superior diocese's entity. “The majority’s misinterpretation also excessively entangles the government in spiritual affairs, requiring courts to determine what religious practices are sufficiently religious under the majority’s unconstitutional test,” Rebecca Bradley wrote. “The majority says secular entities provide charitable services, so such activities aren’t religious at all, even when performed by Catholic Charities.”

Persons: Ann Walsh Bradley, of Jesus Christ, Eric Rassbach, Becket, Judge Lisa Stark, isn't, Stark, Rebecca Bradley, ” Rebecca Bradley, “, ” Organizations: Catholic Charities Bureau, American Islamic Congress, of Jesus, International Society, Krishna, Sikh Coalition, Jewish Coalition for Religious Liberty, for Religious Liberty, Catholic Charities Locations: MADISON, Wis, Illinois , Iowa, Michigan, Minnesota, Wisconsin

☆ Ghana: In deciding on anti-gay law, president is caught between a rock and a hard place
▼ + stars: | 2024-03-14 | by ( David Mckenzie | ) edition.cnn.com time to read: +5 min

CNN —Sam George, the driving force behind Ghana’s harsh anti-LGBTQ legislation, portrays himself as a guardian of gay Ghanaians. Making inequality legalWhatever its origins, the bill’s passage is terrible news for LGBTQ Ghanaians. “The sentiment and emotion we are expressing right now is sadness,” said Alex Kofi Donkor, the founder of LGBT+ Rights in Ghana, an advocacy group. On one side, you have politicians like George and a broadly conservative citizenry that will publicly goad the president to act. For Ghana’s president, navigating this intricate political landscape looks set to be a daunting – and unenviable – task.

Persons: Sam George, “, ”, It’s, ” George, George, Alex Kofi Donkor, Nana Akufo, it’s, Ghana’s Organizations: CNN, Rights, Ghana’s Ministry, Finance, Bank Financing, Monetary Fund, Bank, US State Department, Ministry of Finance Locations: Accra, Ghana, United States, Uganda, Ghanaian, “ Ghana, State

☆ Too early for AI productivity to save the U.S. from secular stagnation
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's still too early for AI-related productivity gains to save the U.S. from secular stagnationViktor Shvets of Macquarie Capital says that the U.S. will continue to need fiscal and monetary stimulas in order for the economy to grow and that productivity gains from AI are still 5 to 10 years away.

Persons: Viktor Shvets Organizations: Macquarie Capital Locations: U.S

☆ Why Friday’s key Nvidia reversal could mark the start of a broader stock market unwind
▼ + stars: | 2024-03-11 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

But some investors are concerned markets could be due for a broader unwind without the help from AI names. As it is, five of the Magnificent Seven names dropped last week, with the exception of Nvidia and Meta Platforms. That advance has helped the S & P 500 climb for 16 out of 19 weeks, notching record after record in its ascent. "A consolidation in the AI trade has been overdue for a while now, so Friday's key reversal day could signal the start of that unwind." NVDA 5D mountain Nvidia Crowding in AI Indeed, other market observers warned investors the overreliance on AI beneficiaries this year could mean danger for the overall market.

Persons: Jonathan Krinsky, Peter Boockvar, semi's, Dubravko, BTIG's Krinsky, there's, Russell, Chris Verrone, Goldman Sachs, Krinsky, Samantha Subin Organizations: Nvidia, Meta, Apple, AMD, Bleakley Financial, Google, JPMorgan, Sunday

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