Closing changes:
S&P 500 +0.6%Nasdaq Comp +0.8%Russel 2000 +0.6%DJIA +0.6%Toronto TSX Comp -0.4%
There were some large divergences today. Amazon was up 5.5% on a report that it may sell its AI chips to other companies, making it a direct competitor to Nvidia. Meta also continued to gain, climbing 2.7% as the market digests its new LLM. In general it was the “AI swallows the world trade”.
On the other side of that was software, as the IGV ETF cracked to a fresh low on big losses in Service Now, Intuit, Adobe and Palo Alto Networks.
This article was written by Adam Button at investinglive.com.