"Alphabet was the strongest force pushing upward on the market. It rose 4.5% in the first chance for traders to buy its stock since Berkshire Hathaway said it built a $4.34 billion ownership stake in Google's parent company. Berkshire Hathaway, run by famed investor Warren Buffett, is notorious for trying to buy stocks only when they look like good values while avoiding anything that looks too expensive. Such discipline has become a much hotter topic on Wall Street recently."
"The company at the center of the frenzy, Nvidia, fell 1.2% Monday, following swings of at least 1.8% in eight of the last 10 days. It's nevertheless still up nearly 40% for the year so far after it doubled in price in four of the last five years. That has Wall Street's spotlight on Wednesday, when Nvidia will report how much profit it made during the summer."
The S&P 500 was nearly flat while the Dow fell about 54 points and the Nasdaq rose slightly, as the broader market hid sizable sector swings. Alphabet climbed 4.5% after Berkshire Hathaway disclosed a $4.34 billion stake in Google's parent, reflecting Berkshire's value-focused investment approach. Critics warn that stretched valuations since April, particularly among AI-related stocks, could make the market vulnerable to a pullback. Nvidia has shown large short-term swings yet remains roughly 40% higher year-to-date after repeated multiyear gains, and will report quarterly profit figures Wednesday. High profit expectations for AI names could unsettle market leadership if companies miss estimates.
Read at www.mercurynews.com
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