I. The AI Boom Versus The AI Trade
AI jitters will be back tomorrow after taking a breather so far this week, as encouraging developments surrounding the AI investment boom helped restore confidence and lift technology stocks. The S&P 500 rose 0.3% on Wednesday, moving back above its 50-day moving average (chart).
The Nasdaq-100 advanced 0.6%, recovering toward its 50-day moving average while remaining above its 200-day moving average (chart).
Among chipmakers, Micron jumped 5.9%, AMD gained 3.2%, and Broadcom rose 2.8% (chart). SK Hynix shares surged as much as 9.4% in Seoul following blockbuster earnings.
