Analyst Commonwealth Financial Network Rob Svenke believes that market reaction may be short.
The NASDAQ Composite Exchange Index on Tuesday, July 15, rose 0.18% to 20,677.80 points, arranging fourth closure records during the last five sessions. The Dow Jones and S&P 500 lost positions against the background of an inflation report and unclear quarterly results of banks. It was reported by the Reuters, which refers to the exchange and the final quotes of sharing technological companies and the largest bank in the United States.
The main growth driver is the sharing of Nvidia. They went up 4% after the company’s statement on the sales of H20 AI chips in China. The news pushes the quotes of other manufacturers: advanced micro devices and excess micro computers add more than 6.4%.
The SOX index increased by 1.3%, to the maximum each year, and the S&P 500 technological sector also updated the record, increasing 1.3%.
However, the analyst on the Commonwealth Financial Network Rob Svenke believes the market reaction can be short -term.
At the same time, the S&P 500 index lost 0.4% (6,243.76 points), and Dow Jones dropped 0.98% to 44,023.29 points.
As we wrote earlier, Nvidia reached Microsoft and became the most expensive company in the world.
Nvidia is the first company in the history of capitalization $ 4 trillion
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.