, which also include Apple and Microsoft. The group’s collective rise was responsible for roughly two-thirds of the S&P 500′s increase through July.
“A little piece of good news in a stock that has been an important driver to the market could change the sentiment,” he said. In one sign of AI’s overall market boost, a Societe Generale analysis zeroing in on 20 stocks widely owned by AI-related exchange-traded funds found that removing those stocks from the S&P 500 would cut index performance by roughly 13 percentage points, leaving it with only a marginal gain for the year.
Options in Nvidia imply a nearly 11% swing for the shares, in either direction, by Friday, according to Trade Alert data. That compares with the 8.6% average move logged by the stock on the day after the chipmaker has reported results over the last eight quarters. Signs that the central bank intends to hold rates around current levels for longer than investors had anticipated could further weigh on stocks.
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