Nifty is trading with a gain of more than 150 points. Support is also coming from Asia. In the US, the Dow Jones index closed at a record high, although the Nasdaq saw mild pressure.
US market situation
US markets closed yesterday with a mixed trend. The Dow Jones index closed at a record high yesterday. The Dow Jones Industrial Average rose 1,000 points in three sessions. The S&P 500 index rose 40 points from its low. The Nasdaq closed down nearly 60 points. The decline in tech stocks put pressure on the Nasdaq. The market is hopeful that the shutdown will end soon.
Will the shutdown end?
The shutdown in America continues for the 42nd consecutive day. The US Senate has passed a bill to resume government business. This bill will be presented in the House today for approval. Deutsche Bank’s employment report is expected next week.
Charles Clough’s speech on the market
People are asking the wrong questions about AI bubble. Tech companies have strong business models. Tech companies are giving good results. There is a possibility of a decline in the market. After the decline, a bounce will be seen. Charles Clough is a veteran of the US market.
Big news related to NVIDIA
SoftBank sold its entire stake in the company. In October, it sold this stake for $5.83 billion. SoftBank sold 3.21 crore shares of the company. SoftBank sold this stake to raise funds. This amount will be used to finance Open AI. The bank also sold its stake in T-Mobile.
Gold continues to rise
Gold prices rose for the fourth consecutive trading session on Wednesday. Gold prices rose on a weak dollar, hopes of a US government reopening and a flow of economic data that strengthened the prospects of an interest rate cut by the Federal Reserve next month. Spot gold rose 0.2% to $4,133.99 an ounce, after hitting its highest level since Oct. 23 on Tuesday. U.S. gold futures for December delivery rose 0.6% to $4,140.10 an ounce.
market opinion
Bloomberg reported that market fears about recession have reduced. These words were rarely mentioned in earnings calls. JPMorgan expects the rally to continue and recommends buying on any dips. UBS said the Fed’s change in stance would provide support. Positive results will also boost the market. With increasing investment in AI, stocks will also rise.
Will demand for AI chips increase?
AMD CEO Lisa Su has given an important statement. Revenue is expected to increase by 35% in 3-5 years. The demand for AI chips is not expected to decline. AI data center business will grow in 3-5 years. This business is expected to grow at the rate of 80%.
Asian market
Meanwhile, Asian markets are trading with gains today. Gift Nifty is showing a gain of 134.00 points. At the same time, Nikkei is doing stable business. At the same time, Strait Times is showing a gain of 0.39 percent. Taiwan market is trading at the level of 27,967.79 with a gain of 0.65 percent. At the same time, Hang Seng is seen increasing by 0.70 percent at the level of 26,882.00. At the same time, Kospi is trading with a gain of 0.75 percent. At the same time, Shanghai Composite is seen falling by 0.06 percent at the level of 4,000.55.
