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.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
