TSLA
Tesla
-- 421.060 PLTR
Palantir
-- 80.550 NVDA
NVIDIA
-- 134.700 OXY
Occidental Petroleum
-- 47.130 AMD
Advanced Micro Devices
-- 119.210 
Market Summary 28th May 2024
After the long weekend, the markets experienced some hidden volatility. While the Nasdaq 100 $Invesco QQQ Trust (QQQ.US)$ and S&P 500 $SPDR S&P 500 ETF (SPY.US)$ seemed fairly calm, with increases of 0.37% and 0.07% respectively, their equal-weight counterparts $Invesco Exchange Traded Fd Tr S&P 500 Equal Weight Etf (RSP.US)$ tell a different story, showing notable declines of -0.68% and -0.69%. This shows a significant difference in market behavior depending on the focus, with most stocks just moving sideways under the radar, leading to a scenario where only a few stocks see major gains.
In terms of standout performances, silver made an unexpectedly strong move. It recently retested its base last week and then surged without any clear reason, which I find particularly intriguing. The closest related event is President Biden’s newly announced tariffs on solar panels. Since silver is a key component in solar panels, this policy change could be influencing its price. This surge in silver prices is the most significant since the deflation of the silver bubble in 2013. Traditionally, investors buy silver as a financial safeguard, so this sharp increase was unexpected and could further fuel the trend as more investors jump on board, fearing they might miss out. If silver continues to rise, we might see a big jump in mining stocks as they play catch-up.
US heat list: $NVIDIA (NVDA.US)$ $GameStop (GME.US)$ $Faraday Future Intelligent Electric Inc. (FFIE.US)$ $Advanced Micro Devices (AMD.US)$ $Tesla (TSLA.US)$ $Apple (AAPL.US)$ $Dell Technologies (DELL.US)$ $AMC Entertainment (AMC.US)$ $Pineapple Energy (PEGY.US)$ $Arm Holdings (ARM.US)$ $Super Micro Computer (SMCI.US)$
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