Cracks forming in the a. I. Led rally. Nvidia continued its decent today, dropping 5 the stock down over 11 from its alltime high hit less than a month ago. And yesterday, we got that warning from data dog, those shares fell another percent and a half today, the lowest close since midmay. And theres super micro, shedding 23 the Company Warning about weak demand for its a. I. Servers. The nasdaq closed below its 50day moving average for the first time in five months. So, is this the canary in the coal mine . Could there be more danger ahead . If we are to believe that a lot of gains were built on the promise of a. I. , and now there are cracks, guy, should we be concerned . In terms of demand . The storys intact, without question the run in some of these stocks, we talked about it, i think thats clearly gotten ahead of itself and you couple with what super computer said, with taiwan semi couple weeks ago, then you start saying to yourself, hmm. Obviously, its an industry thats coming ar
Ticketmaster forced to face the mu music. Im melissa lee, coming to you live from studio b at the nasdaq on the desk tonight tim seymour, karen finerman, steve grasso and julie biel. The do s p 500 and nasdaq pulling back after hitting record levels in the session that even as nvidia soared more than 9 on the back of an Earnings Report that few could find fault with. So, why werent the big numbers from the third biggest stock in the u. S. Enough to boost the rest of the market maybe ironically, Even Stronger numbers on the economy a better than expected read on pmi sent probabilities of september rate cut from nearly 58 yesterday to even money right now. Are markets now all about the fed once again tim, what happened today i think the fed is the most important dynamic in the market, but i do think you have a case here where that pmi, that composite pmi, the services component, 54. 8, last number was around 51, were starting to see the services weaken a bit. This was a very solid number
United states . Well get the latest. And later, the chart master will be along to break down his list of stocks that are stuck in a bear trap. Hell tell us how investors can break free from these unbearable names. Oh, man. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim seymour, guy academy, julie biel and mike khouw. We start with the markets. The benchmark treasury hitting 5. 02 early this morning, a new 16plus year high, but then falling 17 basis points from those levels. It was the third day in a row it closed below that mark. One sector of the market in particular seemed to like the yield move, and that would be megacap tech. Look at the gains in names like meta, amazon, microsoft and alphabet, all of which report earnings this week. Can the momentum keep going or should you be worried about what the results are do to the stocks . A really interesting move in the bond market today. 100 . When you see a 16 basis point move over the course of
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