The dip buyers in the Nasdaq have been steadily accumulating since early in the trading day. Initially, the Nasdaq fell into negative territory at the open as Nvidia went red but the chipmaker is now up 7.7% and the index is now 2% higher. Apple and Meta are also big winners today.
After the washout yesterday, the market figured out that cheap AI is a win for companies who are using AI rather than those who are selling AI, so we’re seeing more of a continuation of that.
This article was written by Adam Button at www.forexlive.com.
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