Major tech stocks led the broader U.S. stock market's rebound this week, buoyed by investor optimism surrounding advancements in artificial intelligence and strong consumer demand.
The Nasdaq 100, as monitored through the Invesco QQQ Trust (NASDAQ:QQQ), has notched its eleventh week of gains in the last 12, also setting new all-time records and eclipsing the 17,000-point mark.
Chart Of The Week: Nasdaq 100, S&P 500 Jointly Achieve Fresh Record Highs
S&P 500’s Historic Milestone
The S&P 500’s remarkable surge can be attributed to the stellar performance of tech giants and companies in the artificial intelligence sector. Additionally, hopes for interest rate cuts in 2024, fueled by a continued decline in inflation, have further cemented this achievement.
Consumer Sentiment Booms
December's retail sales rose at the highest pace in 10 months, up 5.6% compared to a year ago, indicating a strong holiday season for U.S. consumers.
Preliminary data from the University of Michigan revealed that consumer confidence reached a two-and-a-half-year high in January, sharply exceeding expectations.
Sam Altman’s Forecast
AI Regulation Call
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Meta Bets On AI
Fed Rate Speculation
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