LEIBOVIT VR NEWSLETTERS – WEDNESDAY – JANUARY 29, 2025 – WELL, I GUESS WE GOT OUR ‘TURNAROUND TUESDAY’ – BUT WILL IT STICK? AND, IT IS REALLY UP TO J POWELL OR OTHER MARKET FORCES
FOLKS, AS PREDICTED WE HAVE BEEN EXPERIENCING GROUNDHOG DAY VOLATILITY WHICH HISTORICALLY CAN COME TWO WEEKS EITHER SIDE OF OUR FURRY FRIEND’S APPEARNCE.
U.S. Stocks Regain Ground Following Yesterday’s Tech Sell-Off
After seeing considerable weakness in the previous session, stocks showed a strong move back to the upside during trading on Tuesday. The tech-heavy Nasdaq led the way higher after posting a particularly steep loss on Monday.
The Nasdaq surged 391.75 points or 2.0 percent to 19,733.59, partly offsetting the 3.1 percent plunge seen during yesterday’s session. The S&P 500 also jumped 55.42 points or 0.9 percent to 6,067.70, while the narrower Dow rose 136.77 points or 0.3 percent to 44,850.35.
The strength on Wall Street came as some traders looked to pick up technology stocks at somewhat reduced levels following the sell-off seen in the sector during Monday’s trading.
Shares of Nvidia (NVDA) soared by 8.8 percent after the AI darling and market leader plunged by 17.0 percent in yesterday’s session.
Buying interest was somewhat subdued, however, as traders looked ahead to the […]
LEIBOVIT VR NEWSLETTERS – ‘TURNAROUND TUESDAY’ – JANUARY 28, 2025 – RECALL I HAD WARNED ABOUT THE CYCLES AROUND FEBRUARY 2 (GOUNDHOG DAY) USUAL AND EXPECTED MARKET CORRECTION.
GROUNDHOG DAY ONE WEEK AWAY – FEBRUARY 2!
Tech Sell-off Pushes Nasdaq Down By Over 3 P.c.; Dow Ends Moderately Higher
U.S. stocks closed mostly lower on Monday, with those in the technology sector recording more pronounced losses, due to sustained selling pressure right through the day’s trading session.
Among the major averages, the Dow closed up 289.33 points or 0.65 percent, at 44,713.58. The S&P 500 ended down 88.96 points or 1.46 percent, at 6,012.28, while the Nasdaq settled with a loss of 612.47 points or 3.07 percent, at 19,341.83.
Technology stocks tumbled on earnings concerns following China’s low-cost startup DeepSeek’s emergence as a powerful AI model. DeepSeek’s AI Assistant has overtaken ChatGPT on Apple’s App Store, sparking fears that U.S. AI leaders could lose their dominance.
DeepSeek’s ascendance has doubt on Silicon Valley’s hefty AI capex spending and the sustainability of the U.S. technical edge in artificial intelligence.
“Potentially, this technology could be a game-changer, and questions are being asked about the huge amounts of money the traditional tech players, the so-called […]
