From Nasdaq:

Market activity spiked today as the Dow gained +216 points, S&P 500 grew +66 points, and Nasdaq surged +319 points due to new graphics chip announcement from NVIDIA. NVIDIA shares rose +6.4% upon unveiling three new AI-focused chips and trades at all-time highs, signifying a positive outlook for AI-related semiconductor stocks.

Ahead of Q4 earnings, the market made a notable run-up, including JPMorgan, which is already trading +25% higher year-over-year. This upward run raises questions on how much higher the market plans to push overall multiples.

Fed members will make appearances throughout the week, coinciding with additional inflation prints. With the Fed expected to hold interest rates in the 5.25-5.50% range a few weeks from now, surprises in economic metrics are not expected to result in quick changes.

The Zacks Top 10 Stocks for 2024, handpicked by Zacks Director of Research, Sheraz Mian, has seen stunning success, gaining +974.1% since 2012 through November, 2023, nearly tripling the S&P 500’s +340.1%. The latest release holds enormous potential for investors.



Read more: Markets Party Like It’s 2023!