Wall Street, NVIDIA
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The S&P 500 is tracking toward its worst November since 2008 amid mounting concerns over an AI-fueled "bubble" that not even Nvidia and its CEO, Jensen Huang, could allay after it
Jarring swings keep rocking Wall Street, and U.S. stocks erased a big morning gain to drop on Thursday as the market remains skittish following weeks of doubts and erratic moves.
Nvidia has grown to become the largest stock on Wall Street and briefly topped $5 trillion in value. That means its stock movements carry more weight on the S&P 500 than any other stock, and it can single-handedly steer the index’s direction some days.
The better market mood triggered by Nvidia's barnstorming earnings and outlook is reducing concerns about sharp, and possibly negative, stock market moves. The Cboe Volatility index (VIX), is an option-derived measure of expected S&P 500 moves,
Warnings about Wall Street's excessive optimism, concentration risk, and frothy valuations have fallen on deaf ears for most of this year, leaving market-watchers wondering what, if anything, will cool the tech and artificial intelligence frenzy.
Although the Oracle of Omaha's actions will live on beyond his retirement, Berkshire Hathaway will continue to serve as an anchor of optimism for long-term-minded investors.
A slowdown in corporate buybacks as AI players add debt could steal an important source of demand from the market.
The Nifty bulls would want to end this week, which has been a good one for them, on a high. The index came within 35 points of reclaiming its 2024-peak, but failed to do so and cooled off from those levels.
The S&P 500 is tracking toward its worst November since 2008 amid mounting concerns over an AI-fueled "bubble". Not even Nvidia and its CEO, Jensen Huang, could allay those fears
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