) are taking in commentary from Federal Reserve Chair Jerome Powell as he completes his second day of testimonies before the US Senate. The S&P 500 seeks to maintain its record run in 2024 and secure another all-time high close.Way to Win Co-Founder and President Tory Gavito joins Market Domination to comment on where Democrats critical of President Biden should) to feature its AI chat assistant inside several of its European vehicle brands.
You see the seven straight sessions that we have seen increase for the S and P 500 also on track for the 37th record close of the year.But guess what, the NASDAQ is also participating in that party, if you will, it's also set to close at a record today and it is leading gains up by about 1% of course, a lot of that has to do once again with the magnificent seven or magnificent eight or magnificent to whatever you want to call them.
And while the gains in the S and P 500 this year have been largely attributed to the magnificent seven.Bank of America STR is expecting the other 493 stocks in the S and P to post quarterly growth since the four quarter of 2022.And it's good to see you, you know. Tech underperformed because tech earnings lacked S and P five hundred's earnings for the entire year.And that's essentially when tech start outperforming and going forward if tech earnings are going to produce similar growth rates to the to the other 493.
But what we found is that obviously there is a very strong correlation between sales growth and inflation. Uh I, I do think that the inventory cycle is turning, we have been in this destocking cycle over the past year to year and a half and we have seen one of the sharpest uh destocking cycle in history.
And I think that's probably good for companies to or companies to actually beat those numbers in Q three and Q four. And as we talked about a little bit yesterday, uh some analysts research had sort of been pointing in this direction. There are some other questions too about, you know, how exactly this all rolls out in China, um where there are restrictions, um how that could impact uh Apple's attempts to kind of build A I into the new products.Well, and what's interesting here again is that this is Apple's plan now, you probably know this better than this, but anybody isn't, is Apple pretty good at predicting what demand is gonna be like, right when it, when it makes the shipment plans.
And as I mentioned, sound how that stock is on a tear on news that is A I voice system will be integrated into select the anti vehicles.
In part that has to do with the energy transition and how fast the oil industry believes that that that transition will be happening. What's their um outlook for the future given where they're at consider the source always when you were talking about these forecasts.Well, let's get to some other trending tickers on Yahoo Finance today, hub spot on the list that's uh shares dropping after alphabet reportedly shelved its efforts to acquire the software company that according to a report from Bloomberg, the shares are plunging some 13% right now.
So in part of your big brains coming on board or says, yeah, you know, it's good to have big brains around. Uh We are maintaining that uh for this year and we are also announcing that next year our revenue will cross uh uh $100 million.Um and um um what's next after uh sat Chat A I which brings generate A I into the the cars is monetization.
Um And the amount of integration we also don't expect them to go because the integrations we've done, it has taken um 1020 years to build all the features for cars integration maps in connect with the features of the car controlling the car uh and service providers that uh the cars makers want to bring to their users.We are the default assistant of the car.
So you your software interpreting uh when I, when I speak into the box, when I place that, that order, I'm just curious, Kevin, how, how you sort of see that drive through business kind of evolving and changing because when, when I speak KVO to financial analysts um who cover your company, you know, they're excited about that.
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