Posted 4/11/2024, 9:00:00 PM
Stocks Rally on Inflation Data; Nvidia and AI Stocks Lift Nasdaq to Record High
- Stock market rallied as investors shrugged off mixed inflation data; Nasdaq hit record close led by Nvidia, AI stocks
- Nvidia flashed buy signal, joining other AI plays like Broadcom, Astera Labs, Arista Networks in taking off
- Be careful about ramping up exposure too quickly - market still in sideways action despite encouraging signs
- Bank earnings kick off Friday with JPMorgan, Wells Fargo, Citi reports; eyeing support levels
- Consider nibbling leaders but wait for confirmed Nasdaq highs and broader participation before adding substantially