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2023-05-30

Next two weeks of nasdaq may prove AI boom right or wrong.

The AI-Fueled Stock Market Rally Is "Overextended" and Similar to the Dot-Com Era Mania, Veteran Economist David Rosenberg Warns

David Rosenberg said the stock market rally is similar to the dot-com era collapse.The veteran econo

The AI-Fueled Stock Market Rally Is "Overextended" and Similar to the Dot-Com Era Mania, Veteran Economist David Rosenberg Warns

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Equities have been performing well despite a high-interest-rate environment, tightening credit conditions, and ongoing debt ceiling negotiations. </p><p style=\"text-align: left;\">The S&amp;P 500 earlier this month hit 4,200 for the first time since August, and is up 9.6% since the start of the year. </p><p style=\"text-align: left;\">&#34;I think that we have a price bubble,&#34; Rosenberg told CNBC on Thursday. &#34;If you look at the six-month chart of the Nasdaq 100, you have to be blind not to see that, &#39;Okay, this is actually looks very weird, and it&#39;s way overextended.&#39;&#34;</p><p>This rally, in part, is on the back of surging AI interest. </p><p style=\"text-align: left;\">The tech-heavy Nasdaq Composite closed 1.7% higher on Thursday, fueled by chipmaker Nvidia&#39;s blockbuster earnings. The company&#39;s stock skyrocketed after the release of a glowing forecast for the second quarter, citing booming demand for its AI products. Nvidia, whose earnings call this week mentioned AI 43 times, closed 24% higher on Thursday.</p><p style=\"text-align: left;\">&#34;This type of corporate behaviour is not too different from what took place in the dotcom bubble, with company after company satisfying investors&#39; appetite for news on how it plans to incorporate the internet into its business — or boosting stocks just because they added &#39;.com&#39; to the name,&#34; Rosenberg wrote in a Financial Post column, released on Thursday.</p><p style=\"text-align: left;\">The economist added: &#34;So, while we are a believer in the long-term benefits of AI, from an investor standpoint, the current environment is taking on a mania of sorts.&#34;</p><p>UBS&#39;s Art Cashin echoed similar sentiments, describing AI as the &#34;new mini-version of the dot-com.&#34;</p><p style=\"text-align: left;\">&#34;Everything you hear, it&#39;s going to have an AI inflection, everything from new drugs and medicine, to predictive natures of all types,&#34; Cashin told CNBC on Thursday. &#34;This is going to be interesting.&#34;  </p></body></html>","source":"marketsinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The AI-Fueled Stock Market Rally Is \"Overextended\" and Similar to the Dot-Com Era Mania, Veteran Economist David Rosenberg Warns</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe AI-Fueled Stock Market Rally Is \"Overextended\" and Similar to the Dot-Com Era Mania, Veteran Economist David Rosenberg Warns\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-30 09:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/stock-market-outlook-ai-nvidia-dotcom-bubble-economist-david-rosenberg-2023-5><strong>Markets Insider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>David Rosenberg said the stock market rally is similar to the dot-com era collapse.The veteran economist warned that the rally is way overextended due to the AI frenzy.Rosenberg believes in AI long ...</p>\n\n<a href=\"https://markets.businessinsider.com/news/stocks/stock-market-outlook-ai-nvidia-dotcom-bubble-economist-david-rosenberg-2023-5\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4529":"IDC概念","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","AMD":"美国超微公司","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","BK4567":"ESG概念","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","NVDA":"英伟达","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4587":"ChatGPT概念","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU1923622614.USD":"Natixis Thematics Meta R/A USD","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0079474960.USD":"联博美国增长基金A","BK4543":"AI","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0056508442.USD":"贝莱德世界科技基金A2","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","BK4550":"红杉资本持仓","BK4141":"半导体产品","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","BK4503":"景林资产持仓","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","BK4548":"巴美列捷福持仓","BK4551":"寇图资本持仓","AI":"C3.ai, Inc.","BK4581":"高盛持仓","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4549":"软银资本持仓","LU0109392836.USD":"富兰克林科技股A","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H"},"source_url":"https://markets.businessinsider.com/news/stocks/stock-market-outlook-ai-nvidia-dotcom-bubble-economist-david-rosenberg-2023-5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2338134438","content_text":"David Rosenberg said the stock market rally is similar to the dot-com era collapse.The veteran economist warned that the rally is way overextended due to the AI frenzy.Rosenberg believes in AI long term, but \"the current environment is taking on a mania of sorts.\"David RosenbergThe stock market's rally, fronted by the artificial intelligence frenzy, will be short-lived like the dot-com era boom, David Rosenberg said. The veteran economist, who is the president and founder of Rosenberg Research, said the current surge in stocks is overextended. Equities have been performing well despite a high-interest-rate environment, tightening credit conditions, and ongoing debt ceiling negotiations. The S&P 500 earlier this month hit 4,200 for the first time since August, and is up 9.6% since the start of the year. \"I think that we have a price bubble,\" Rosenberg told CNBC on Thursday. \"If you look at the six-month chart of the Nasdaq 100, you have to be blind not to see that, 'Okay, this is actually looks very weird, and it's way overextended.'\"This rally, in part, is on the back of surging AI interest. The tech-heavy Nasdaq Composite closed 1.7% higher on Thursday, fueled by chipmaker Nvidia's blockbuster earnings. The company's stock skyrocketed after the release of a glowing forecast for the second quarter, citing booming demand for its AI products. Nvidia, whose earnings call this week mentioned AI 43 times, closed 24% higher on Thursday.\"This type of corporate behaviour is not too different from what took place in the dotcom bubble, with company after company satisfying investors' appetite for news on how it plans to incorporate the internet into its business — or boosting stocks just because they added '.com' to the name,\" Rosenberg wrote in a Financial Post column, released on Thursday.The economist added: \"So, while we are a believer in the long-term benefits of AI, from an investor standpoint, the current environment is taking on a mania of sorts.\"UBS's Art Cashin echoed similar sentiments, describing AI as the \"new mini-version of the dot-com.\"\"Everything you hear, it's going to have an AI inflection, everything from new drugs and medicine, to predictive natures of all types,\" Cashin told CNBC on Thursday. \"This is going to be interesting.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":281,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":47,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}