Major US Indices (^GSPC, ^DJI, ^IXIC) have seen a rally with tech leading the charge in the past several months. One of the top stocks leading is Nvidia (NVDA) with Wall Street abuzz with any and all plays related to AI. Does this sector have more room to grow? How does all of this relate to the economy at large? With the Presidential election on the way, will the stock market be impacted? will the broader market and consumers be impacted? Yahoo Finance Reporter Jared Blikre is joined by Freedom Capital Markets Chief Global Strategist Jay Woods for the latest edition of Stocks in Translation to discuss volatility in the market, the rally seen in the S&P 500, the part Nvidia plays in that rise, divergence in the market, and more. For more Stocks in Translation, watch here: https://finance.yahoo.com/videos/series/stocks-in-translation/ This post was written by Nicholas Jacobino
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the middle part of the second quarter of 2024 showed a big divergence of returns.
According to CNBC’s Jim Cramer, Nvidia Corp (NASDAQ:NVDA) could soon surpass Microsoft Corp’s (NASDAQ:MSFT) market capitalization. He explained that Wall Street is skeptical of Nvidia’s rapid rise, as many need to familiarize themselves with its products. Cramer compared Nvidia’s ascent to Apple Inc’s (NASDAQ:AAPL) dethroning of Exxon Mobil Corp (NYSE:XOM), noting that Nvidia’s fame primarily comes from the enterprise sector and hard-core gamers, CNBC reports. Also Read: AMD Expands Partnership