Wall Street saw little change in trading on Monday, with the Nasdaq up 0.1%, the Dow Jones down 0.1%, and the S&P 500 unchanged. The market was influenced by disappointing forecasts from Micron, affecting chip stocks. Additionally, the GDP of the USA increased by 1.4% in the first quarter, and the PCE index is eagerly awaited.
In Europe, H&M plunged after reporting lower profits. Meanwhile, Pershing Square’s major holdings include Alphabetical, Chipotle, Hilton, and Restaurant Brands International. One of Bill Ackman’s holdings announced a major stock split for Chipotle Mexican Grill.
In Asia, indexes were trading lower as in the US futures market. Amazon reached an all-time high in market value, surpassing $2 trillion. FedEx also saw a significant jump in its stock price after posting strong financial results.
Bond yields and the yen against the dollar fluctuated in debt and currency markets globally. Analysts at Blackrock remain optimistic about technology stocks in the US market due to investors seeking quality and companies’ profitability and investment in AI infrastructure. They predict that technology stocks’ profits are fueled by these factors alone.
Looking ahead to May’s PCE index publication in America indicates gradual moderation of inflation rates on Wall Street later this year when there may be monetary easing initiated by the Fed to stimulate economic growth further. Blackrock highlights possible scenarios that could impact technology stocks such as changes in corporate spending on AI or regulatory restrictions that may affect their profitability or overall performance on Wall Street.
Furthermore, online gaming platforms have been gaining popularity among consumers worldwide as they continue to provide entertainment during social distancing measures.
Overall, while Wall Street has experienced slight fluctuations this week due to various factors such as disappointing forecasts from Micron and corporate earnings reports from other sectors like Amazon and FedEx – it remains optimistic for long-term growth opportunities within technology stocks driven by investors’ demand for quality companies with robust profit margins and investment potential across industries such as artificial intelligence infrastructure development.
