Stocks traded lower Wednesday as investors evaluate their holdings following a booming first half of the year led by AI plays. The S&P 500 was on track for its fourth losing day in the last five as it closes out this week a six-month gain of nearly 15%.fell 0.2% and 0.1%, respectively. The Nasdaq is set for a 17% first-half gain because of a big run in Nvidia.
"We like the stock's event path offering accelerating revenue growth in 2H24 with profitability set to inflect in 2025," he said. "Shopify also avoids the ongoing macro/AI-induced budget uncertainty as more of a 'downstream beneficiary' of AI trends."Volkswagen is starting with a $1 billion investment in Rivian, with the remaining $4 billion expected by 2026.
Liz Ann Sonders, chief investment strategist at Charles Schwab, thinks weakness in individual stocks is creating buying opportunities. "I think there's opportunities being created at the individual stock level because of how much weaker breadth has been for the average stock," Sonders told CNBC's "Closing Bell" on Tuesday.is poised to continue its monster run, according to EMJ Capital's Eric Jackson. The hedge fund manager sees its forward price-to-earnings ratio hitting close to 70 and rising to $6 trillion in market cap at $250 per share by year's end.
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