Week in Review: Top Interviews as Technology Defies Inflation, Again
Earnings growth tied to AI continued what one guest called “the magnitude and melt up” of this epic rally.
For the week, the S&P 500 index rose 1.4%, and ended the month at a record closing high, up 5.2% for May. The Dow Jones Industrial Average rose 0.9% on the week while the small cap Russell 2000 rallied 1.9%. For the month, the Dow rose 2.8% while the Russell was up 4.3%. The U.S. benchmark crude price slumped roughly 9% on the week to near $87.76 per barrel on hope that the U.S. and Iran are getting closer to an agreement that frees up oil shipments.
“FOMO momentum is a powerful force. It takes time to wear off. That is why we have not seen a discernable pull back. This year, people sold without even modeling it and now they are chasing,” observed Paul Schatz, founder and president of Heritage Capital, in conversation with Marley Kayden.
Sell in May and go away may go down this year as just a cute phrase.
“This has been a run for the ages,” said Jay Woods, Freedom Capital Markets Chief Market Strategist, in conversation with Diane King Hall. “You know how many other nine-week S&P 500 winning streaks we have had? Just two. 2023 and 12 weeks in the great year of 1985. … I expect to lose a little momentum now that this earnings season is over”
With tech hogging the headlines, one interview you may have missed: Greg Braca, former CEO of TD Bank and Executive Chairman of Ironlight Group, spoke with Nicole Petallides on how tokenizing assets can increase liquidity and democratize investment in private equity, credit, real estate, and more.
Here are some highlights of our interviews and thought leadership on markets including earnings, technology, and macroeconomic themes.
On earnings and the melt up:
- Snowflake Stock Surges 30% After Earnings & $6B AWS Deal
- Dell Earnings: Insight into Red-Hot AI Infrastructure Market
- Salesforce (CRM) earnings came in better than expected, and the AI opportunity remains
- 3 Answers from Zscaler (ZS) executives after earnings and the outlook pressured
- Is this earnings-fueled rally justified? Lesley Marks, Chief Investment Officer – Equities at Mackenzie Investments, talks to Sam Vadas on market strength as inflation rises
Insights on technology, semiconductors and AI:
- How Zscaler (ZS) Earnings & AI Growth Affect Greater Cybersecurity Rally
- SOX Tilts Bearish, U.S.-Iran 'Sell the News' Concerns & GOP Midterm Headwinds
- Kevin Green, Senior Market Correspondent, breaks down the stellar price action in AI memory chips as the market capitalization of Micron (MU) reaches $1T
- Dan Ives, Global Head of Technology Research at Wedbush Securities, talks about the massive need for AI-related computing power, and what may be ahead for SNOW, PLTR, CRM, Magnificent 7 investments and AI.
GDP, inflation and what retailers’ reports reveal:
- The week brought stagflationary economic statistics, with slower GDP growth and inflation that “may be here to stay,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.
- As prices increase and consumers trade down, CostCo (COST) may need to justify a 50x P/E ratio, especially after Walmart (WMT) weakness pressured shares.
- Will a Surge in Call Options Back Bull Run, or will Inflation Open Door to Bears?
- How Tentative U.S.-Iran Deal Affects Oil, Treasury Yields and the Fed
Featured Clips
Jay Woods on Stock Market's 'Run for the Ages' & Finding 'Floor' in Quantum Stocks
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