Nvidia, Tesla, Rest of Mag 7 Lift Stock Market Higher | Wall Street Today
The S&P 500 Index recovered from its biggest weekly slump since April, and the Nasdaq Composite Index rebounded, buoyed by gains in Nvidia, Tesla and the rest of their Magnificent Seven peers.
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CrowdStrike has fallen more than 10% in recent days! The aftershocks of the global IT outage continue, and the stocks have been downgraded.
Due to a global IT system crash caused by CrowdStrike software updates, Delta Air Lines has canceled more than 5,000 flights from last Friday to this Monday. Analysts at Guggenheim, who downgraded CrowdStrike from buy to neutral, believe that it will take some time for the company to repair its image, which could affect its signing of new contracts.
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Is the darling of chip stocks changing? Citigroup: Broadcom is catching up with Nvidia.
According to Citigroup analysts, last week's communication with investors revealed that Nvidia is still the most bullish chip stock among investors, with Broadcom close behind due to its acquisition of VMware and gaining more AI customers such as OpenAI. Meanwhile, investors are becoming somewhat tired of Nvidia.