Stocks Surge on Cooler Inflation Data; Microsoft, Nvidia Break Out
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October CPI inflation data came in cooler than expected, sending stocks surging with many breakouts on Tuesday. Microsoft and Nvidia rose in buy zones.
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Microsoft's AI event on Wednesday may reveal its own AI chip to reduce dependence on Nvidia. Biden and China's Xi will meet amid hopes of easing tensions.
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Dow futures edged higher overnight. Key economic data due Wednesday morning includes PPI inflation and retail sales.
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Leading stocks breaking out or flashing buy signals Tuesday MercadoLibre, Cloudflare, Amazon, Toll Brothers, Super Micro Computer.
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Treasury yields plunged on lowered rate hike expectations. Nasdaq cleared 14K, small caps above 50-day lines. Tesla approached 50-day line, BYD at early entry.