Brent topped $116 and stocks pulled back on fears of renewed U.S.-Iran hostilities after the midterm elections. For the week, small caps led with the Russell 2000 up 2% while the S&P 500 and Nasdaq slipped.
We added to six holdings, and upgraded and lifted a price target on another as favorable AI data conflicted with market emotion.
The Software-as-a-Service (Saas) apocalypse hasn’t arrived, despite the growth of AI.
While I won’t take sides on NVDA before it announces earnings this week, I do have a read on the indicators and charts for you.
We added to one holding this week, and locked in outsized gains for two others.
Software stocks like Palantir and CrowdStrike are heating up as the sector regains favor with investors.
Higher capex guidance is punishing hyperscalers while their suppliers celebrate.
No end in sight for renewed U.S.-Iran pressures, Jensen Huang on China AI models and other headlines are moving stocks this morning.
The SMCI reaction is a taste of what lies ahead, but tonight is the real test.
Some energetic bounces are raising the stakes for significant earnings set for the near future.
