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- π Oil at yearly highs
π Oil at yearly highs
Plus: Nvidia touts "insane" chip demand
Good Morning!
Markets slipped on Thursday as Wall Street awaited the crucial jobs report, while oil prices surged 5% amid concerns over rising Middle East tensions following Biden's comments. Meanwhile, Nvidia stock jumped on soaring demand for its new Blackwell chips, and investors are eyeing potential gains in biopharma stocks as the FDA nears critical decisions.
Grab your chai latte and let's get into it! βοΈποΈ
Markets
Stocks took a slight dip on Thursday as Wall Street anxiously awaited the crucial jobs report. The S&P 500 slipped by nearly 0.2%, and the Dow Jones Industrial Average followed suit with a drop of around 0.4%. Meanwhile, the Nasdaq Composite, which is packed with tech stocks, managed to hold steady but finished just under the flatline.
π’οΈ Oil Prices Jump on Bidenβs Comments
U.S. crude oil prices surged 5% on Thursday, marking a third straight day of gains, as concerns grew over a potential Israeli strike on Iran's oil industry following Tehranβs missile attack. President Joe Biden hinted at ongoing discussions but downplayed immediate action, saying, βThereβs nothing going to happen today.β Geopolitical tensions in the Middle East are the highest they've been since the Gulf War, fueling the price jump.
π₯ Nvidia stock rises as CEO Jensen Huang touts 'insane' chip demand
Nvidia stock surged up to 5% on Thursday after CEO Jensen Huang revealed that demand for its next-gen Blackwell chips has been "insane." Speaking with CNBC, Huang confirmed the chips are now in "full production," despite earlier design issues that delayed customer rollouts. He added, "Everybody wants to have the most and be first." Investors have been watching this rollout closely as a potential catalyst for recovery after Nvidia's recent stock slump.
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π°οΈ 3 Top Stocks That Could Still Rocket Higher in 2024
Investors eyeing quick, dramatic stock movements should look to the biopharmaceutical industry, where the FDA is reviewing key applications from three major drugmakers, with decisions expected by year-end. A positive outcome could send these stocks soaring.
Quick Links
Stocks
Palantir stock soars to 52-week high (Investing.com)
Aerospace and defense ETFs beat S&P 500 (MarketWatch)
Why is Tesla stock down again? (Barrons)
Investing
Ranking The Best Passive Income Investments (Financial Samurai)
The 50 Percent Rule (Allan Roth)
Why Should You Care When Stocks Plunge? (William Bernstein)
Business
3 minute masterclass on the only "free lunch" in finance.
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7:50 PM β’ Oct 2, 2024
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