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“Profitability is coming from productivity, efficiency, management, austerity, and the way to manage the business.” – Carlos Slim
Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.
Even though the S&P 500 was down 1.4% yesterday, there were 351 advancers and just 152 decliners within the index. As shown below, Technology, Utilities, and Industrials pretty much saw all of the pain, while Consumer Staples and Health Care were actually up more than 2%. All of the weakness yesterday came from declines in the companies that deal with producing and powering AI.
NVIDIA (NVDA) ended last week as the largest company in the world with a market cap of roughly $3.5 trillion. It ended Monday with a market cap of $2.9 trillion and now ranks as the third largest company behind Apple (AAPL) and Microsoft (MSFT). Since last Thursday’s close, NVIDIA (NVDA) has lost $705 billion in market cap!