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Nvidia surpassed Apple to become the single largest position in the Vanguard S&P 500 ETF with a 7.50% weight as of June 30. This shift highlights the growing dominance of AI supply chain stocks, with other tech giants like Broadcom and Micron also climbing into the fund's top ten.
Bitcoin surged over 25% this week to an intraday high of $79,500 before settling near $77,700, driven by forced short covering and lighter SEC registration proposals. The rally followed President Trump urging Congress to pass the Digital Asset Market CLARITY Act, lifting crypto-linked stocks like Strategy and Coinbase alongside Ethereum and XRP.
Microsoft stock jumped 15.5% on July 30 after beating fiscal fourth-quarter revenue and earnings estimates. Azure cloud revenue surged 43% annually, while CEO Satya Nadella highlighted up to 40% efficiency gains from custom chips and external AI technologies.
AMD stock dropped more than 8% on Friday, defying a report of record quarterly sales and earnings beats. The decline occurred even as the company reported $11.5 billion in revenue, up 50% year-over-year, with data center revenue doubling to $6.7 billion.
The article argues that despite recent market volatility, the S&P 500 remains significantly ahead of historical averages for midterm election years. It suggests investors should remain calm by citing data showing an 11.6% year-to-date gain compared to a typical 1.3% loss during similar periods since 1954.
The Irish Times argues that European Central Bank warnings about overvalued US stocks are repetitive and unhelpful for investors. Citing a decade of similar alerts, the commentary contends that regulators highlight risks while investors must decide on action, suggesting time in the market beats timing based on such persistent but non-actionable forecasts.
The article argues that Ross Stores outperformed rival TJX in the same period due to broader customer traffic growth and raised guidance, despite both reporting off-price retail results. It contends that market reactions diverged because investors prioritized Ross's optimistic forward outlook over TJX's modest gains.
U.S. stocks rebounded on Friday, with the Dow Jones Industrial Average rising over 517 points. Ross Stores led equity gains, rising 4.4% after reporting stronger quarterly profit and revenue than analysts expected. Crypto-related equities and Bitcoin surged significantly, driven by Treasury Secretary Scott Bessent's bond buyback announcement.
Citi strategist Scott Chronert lifted the firm's full-year S&P 500 index forecast to $365 from $350, citing fundamental tailwinds and robust second-quarter earnings growth. The bank maintains a year-end price target of 8100 as profit margins are projected to reach their highest level in over 15 years.
AMD stock edged up 0.1% to $470.19 on Friday, with traders positioning ahead of Nvidia's August 26 earnings report. The upcoming results are expected to reset market expectations for AI-accelerator competitors like AMD, which recently reported $11.5 billion in Q2 revenue driven by data-center sales.