► Big tech like Tesla and Apple are enjoying their longest winning streak since July 2021, and Broadcom is predicting a doubling of artificial intelligence sales. However, in pre-market U.S. trading today, stocks, including tech stocks, are trading mostly lower, with big-tech stocks continuing their outperformance.
► While stock prices rose, the Cboe Volatility Index, Wall Street's fear barometer, fell to pre-pandemic levels, showing that the recent rally occurred under relatively low volume.
► Economists and investors are focusing on (indicators such as) the Fed, inflation, and wages, noting that the overall market reaction is less severe, suggesting increasing market resilience.
► Despite the uptick in the stock market, Quincy Krosby, chief global strategist at LPL Financial, among others, warns of potential risks, including a possible outflow of liquidity due to the upcoming auction of about $1 trillion in Treasury bills to replenish the U.S. general account following the debt ceiling agreement.
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