The stock market is experiencing a range of movements as various factors come into play. Selena, an accommodation complex network, started the week on Wall Street at a low price but has since soared to a three-digit rate with a turnover more than 100 times the average daily turnover.
In other news, Canadian company Blackberry has announced a collaboration with AMD to design the next generation of robotic systems, leading to an increase in its stock price. Taiwan Semiconductor is also rising following news that the US will grant the company $6.6 billion to build a chip factory producing 2 nm chips. However, chip stocks such as Nvidia are down today, with Nvidia in correction trend and trading at around $846 per share.
Google and Intel have launched new chips challenging Nvidia’s dominance in artificial intelligence, while European stock exchanges closed with price drops influenced by declines on Wall Street. Inflation data in the US is expected to be published tomorrow which could impact the Fed’s policy and first quarter earnings reports will be important for evaluating market trends.
The price of gold has reached a new record high, trading at $2,373 per ounce due to FOMO (Fear Of Missing Out). Google introduced a new server chip and video creation tool at its Google Cloud Next conference and US futures are trading slightly higher with vigilance for tomorrow’s inflation data. Market analysts have differing views on interest rates and market trends, with Wells Fargo Bank raising the target price of the S&P 500 in 2024 while JPMorgan CEO Jamie Dimon warns of significant rise in interest rates.
Oil prices are slightly higher and BP expects higher production in the first quarter while European and Asian stock exchanges are trading in mixed trend. Companies such as Amazon, Meta and Tesla are making positive moves in the market while US government bond yields hit a five-month high.
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