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American stock futures were particularly stagnant on Wednesday, apparently digesting the tech rally of the previous day. On Tuesday, the S&P 500 rose sharply by 0.72%, and Nasdaq even jumped by 1.61%, marking its fifth consecutive winning session. Everyone is happy, except for Dow, which stubbornly went down by 0.64%. Why? It's simple — UnitedHealth stocks decided to take a nosedive. Apparently, the company remembered that medicine is not about profit, but about surprises from the government.😉
On the bright side, the S&P 500 finally turned positive for the year. How? Well, it seems inflation has slightly eased, and the US and China temporarily stopped throwing sanctions at each other. This was enough for investors to start dreaming again about a bright future and a more lenient Fed.
And now to the stars of the show.
Nvidia soared by 5.6% after the loud announcement: it will make AI chips for Saudi Arabia. Yes, now even oil with camels wants artificial intelligence. The market enthusiastically applauded. Meanwhile, AMD and Broadcom — on the principle of "what if we’re also in the game" — jumped more than 4%.
Coinbase is simply out of this world. +24% on the news of its inclusion in the S&P 500. Now the cryptocurrency exchange is a respected member of the index.