To The Moon

US Gross domestic product was expected to increase at a 4.7% annualized pace in the third quarter, according to a Dow Jones consensus estimate.

Trillion-dollar AI chipmaker Nvidia just announced a huge new partnership with biotech AI startup Recursion Pharmaceuticals.AI’s application in the field of biology holds the potential to unlock enormous economic value for one simple reason: data.The drug discovery and development process is prohibitively long and expensive, but AI can significantly shorten and cheapen this process. It can map out human genetic data, identify mutations, and run simulations of compounds to fight those mutations – all in an instant.Earlier this year, Japanese pharma giant Takeda Pharmaceutical bought an experimental psoriasis drug for $4 billion – a drug that was created in only six months by using AI. And it isn’t alone.Editor’s note: “Nvidia Just Confirmed an Emerging AI Boom in Biotech” was previously published in June 2023. It has since been updated to include the most relevant information available.And Nvidia , the world’s preeminent AI company, may have just confirmed that sentiment yesterday.Nvidi

The US market rally pulled back in a holiday-shortened week. US Market Performance, Last Week: DJIA fell -2%, falling below its 21-day moving average (ma). S&P 500 fell -1.2% to just below its 10-day ma. Nasdaq fell -0.9% and holding its 10-day ma. Advancing issues outnumbered decliners on the NYSE by a 2.49-to-1 ratio; on Nasdaq, a 2.00-to-1 ratio favored advancers Importance of the 10-day & 20-day ma: 10 day ma: a powerful tool to know if prices are moving in an uptrend or a downtrend. 20 day ma: provides many more reversal signals than a 100-day moving average. The US Non-Farm Payroll (NFP) data was the main catalyst that affected the US market on Friday (see below). Nonfarm Payroll measures change in the number of people employed during the previous month, excluding the farming