From October 20 to 22, along the banks of Shanghai's Huangpu River, the 2026 Sustainable Global Leaders Conference returns once again. Nobel and Turing Award winners will share their insights on the future and trends of technology, and the internet-famous professor who "rescues" people from the age of anxiety and involution—Macfarlane—will hold a live dialogue with Xiang Biao!
Limited spots available, first come first served. Let us join together for a sustainable future! [Click to register]
Chip stocks rebounded to lift the US stock market, as dip buying emerged with investors betting that the AI investment boom will continue to support corporate earnings.
The Nasdaq 100 Index rose 1.2%, marking its largest gain since the end of September. The S&P 500 Index gained 0.4%. Semiconductor stocks advanced, with the Philadelphia Semiconductor Index rising 1.6%, ending an eight-day losing streak.
"Whenever a situation like last Friday arises, it creates buying opportunities," said Edison Byzyka, Chief Investment Officer at Credent Wealth Management, noting that there is no sufficient reason for such a significant pullback in large-cap tech stocks.
Morgan Stanley strategist Michael Wilson also signaled a bullish outlook, advising investors to prepare to increase risk exposure in their portfolios, pointing out that the months-long correction in certain parts of the stock market is nearing its end. Struggling AI bellwether CoreWeave Inc. fell 0.4%, despite Goldman Sachs upgrading the stock to buy.
SpaceX rose 1%, after Musk promised to give one SpaceX share to every American child. Amazon shares surged 5%, after Morgan Stanley named the e-commerce and cloud computing company as a top pick.
SpaceX, Tesla, and Meta Platforms Inc. are all set to report earnings later this week.
At the close, the S&P 500 Index rose 0.4% to 7,690.73 points; the Dow Jones Industrial Average fell 0.1% to 51,966.03 points; the Nasdaq Composite Index gained 1.1% to 26,430.89 points; the Nasdaq 100 Index rose 1.2% to 29,529.34 points; and the Russell 2000 Index advanced 0.3% to 2,728.298 points.
Comments