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Nasdaq Hits Record High, Extends Weekly Streak to 7

The Dow and S&P 500 snapped their weekly win streaks

Managing Editor
Oct 25, 2024 at 4:27 PM
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The S&P 500 and Dow both snapped their six-week win streaks, succumbing to this week's pressure from rising Treasury yields, though the bond market has since cooled off. The blue-chip index closed 259 points lower, reversing its early-morning pop for its fifth-straight daily loss. The tech-heavy Nasdaq hit record highs today, however, notching a triple-digit gain and seventh consecutive weekly win -- its longest streak since December. 

Continue reading for more on today's market, including:

  • 5-minute rundown on this week's volatile movers.
  • Aviation stock sinks on public offering buzz.
  • Plus, ETF outperforming the SPY; homebuilding stock could climb; and footwear giant sees fresh surge.

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5 Things to Know Today 

  1. Cathie Wood cut back even further on Tesla (TSLA), her flagship Ark Innovative ETF (ARKK) making another sale of its stake after the electric vehicle's (EV) latest post-earnings surge. (MarketWatch)
  2. The race against Tesla's robotaxi continues, with Alphabet's (GOOGL) latest funding update for it's own driverless vehicle. (CNBC)
  3. An outperforming ETF to watch now.
  4. Which homebuilding stock could keep climbing.
  5. Hoka sales boost footwear giant.

Earnings October 252024

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Gold and Oil Post Daily, Weekly Wins

Crude has continued higher due to Middle East tensions, boosting black gold for the day and week. November-dated West Texas Intermediate (WTI) crude fell $1.59, or 2.3%, to settle at $71.78 per barrel for the session, and 4.5% higher on the week.

Gold finished with gains today, a boost coming from upcoming election buzz. Gold for December delivery tacked on 0.7% to trade at $2,754.60 at last check. For the week, gold has tacked on around 0.6%.

 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI.

Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
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