Beat the street: Equities melt-up still in play; NVIDIA; BoE holds fire
Wall Street set to extend run. NVIDIA is expected to solidify its position as the world's most valuable company, driving the bulk of this year's tech gains.
Bank of England keeps rates on hold, waiting instead to decide whether or not to cut after the 4 July general election.
(AI Video Summary)
Post-Juneteenth market movements
In a comprehensive "Beat the street" market update from IGTV, key insights included Wall Street's continuation after the Juneteenth holiday with a focus on NVIDIA's significant valuation. Economic data included slight misses in US building permits and housing starts, with jobless claims marginally exceeding expectations.
John Stoltzfus interview
John Stoltzfus from Oppenheimer discussed the sustained surge in US markets, driven by AI technology integration across various sectors, highlighting potential longevity despite concerns of an overheated market. Attention was also brought to sectors like health care and consumer discretionary, emphasising their potential resilience and growth.
NVIDIA
NVIDIA and tech stocks remained pivotal in market discussions, impacting the Nasdaq's performance. The discussion also touched on broader economic indicators and specific stocks like Boeing and Amazon, with an overarching theme of cautious optimism for market prospects.
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