"For the Nasdaq Composite, if it can hold onto its momentum, it will mark weekly gains for the tech-heavy index. The Dow Jones Industrial Average is on pace for its third straight win, while the S&P 500 is looking to close above the psychologically sensitive 6,800 level. Most all sectors of the economy are trading in the green today. Year to date, the Nasdaq Composite has advanced by 20% as the AI trade continues to drive the market cycle."
"Nvidia ( Nasdaq: NVDA) has clapped back at recent critics, and Wall Street analysts believe the AI darling has every right to do so. Analyst firm Bernstein published a report about it, validating Nvidia's response to naysayers while SocGen reiterated its "outperform" rating on NVDA stock with a price target of $275 attached. Separately, reports indicate that China interfered with Nvidia's chips being supplied to Beijing tech company ByteDance for its data centers."
U.S. stock indexes moved higher in morning trading, with the Dow Jones Industrial Average up 0.49%, the Nasdaq Composite up 0.49%, and the S&P 500 up 0.43%. The Nasdaq has gained roughly 20% year-to-date as AI-related stocks drive the market cycle. The Dow is poised for a third consecutive win and the S&P 500 is targeting a close above 6,800. Nvidia defended itself and received analyst support amid reports of Chinese interference with chip shipments to ByteDance. Goldman Sachs raised Broadcom's price target, Dell raised its full-year outlook, Workday fell on weak subscription sales, and Deere slid after a Q4 shortfall.
Read at 24/7 Wall St.
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