The Nasdaq Composite has soared this year as tech stocks gain optimism over artificial intelligence. While the lower yields is consistent with a poorly performing Dow. The index is down around 0.7% this year.
For those companies whose market cap were over $50 billion, NVIDIA was the biggset winner with nearly 159% gain. Meta Platforms soared around 120%.
The latest uptake in the use of Artificial Intelligence boosts the semiconductor space. Chips ETFs like MicroSectors FANG+ Index 3X Leveraged ETNs and Semiconductor Bull 3X ETF have gained over 60% in May, 2023.
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