Market Continues to be Powered by AI-Stocks
Stock market growth this year has been helped by AI stocks like Nvidia and Google. The market closed mostly high over last weekend.
The driving force behind many of the major stock trades as of late has been from AI-related stocks. Any tech stock with ties to artificial intelligence seems to have its week in the sun.
Nvidia (NVDA) is a great example of that, as the stock skyrocketed in recent weeks and had incredible momentum through the early part of 2024. Even though this stock has slowed down, it has managed to hold on to the gains it made and still show indications that it will grow well in the future.
Microsoft is down slightly today but had a very good month in March, growing considerably. The tech giant is a major player in the AI niche and continues to trade well as the AI stock wars rage on.
Alphabet, the parent company of Google, is trading high right now as well. This stock grew all through the last month, seeing a steady increase and setting itself up for strong growth in 2024. Google continues to find ways to integrate AI into its services and take advantage of the growing AI market.
Stock Market Recap
The Dow Jones Industrial Average has nearly reached 4,000 points, and that index closed up 0.12% last week. Walt Disney, Intel, and Verizon were the top earners on that index, and those top spots have not changed much throughout the year so far. We expect all three of these stocks to do well through their next fiscal quarters.
The S&P 500 index also closed up, by 0.11%. The top stocks there were Este Lauder and AES Corp, up 6.28% and 3.94% respectively. Moderna is down 3.64% but it looks like this is just a price correction after a robust couple months of growth.
The Nasdaq Composite closed down 0.12% with Primech Holdings doing most of the pulling down, with a loss of 66%. The top earner was Avalo Therapeutics, with a 357% increase after acquiring an anti-inflammatory drug that is in phase 2 testing.
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