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Jobless Claims Forecast to Decline From High Levels of Previous Week
Economists surveyed by FactSet forecast that 235,500 initial unemployment claims were filed for the week ended June 15. That would reflect a decrease from the previous week's 242,000, the highest level in 10 months.
Vanguard Says US Tech 'Euphoria' Can Break One or Two Ways
Joe Davis, chief economist and global head of investment strategy at Vanguard, says the valuation gap between tech and other stocks will narrow in the coming years. "I think we can see some modest deceleration in the tech sector, at some point it has to come," Davis says on Bloomberg Television. "But if the economy holds up, I think other parts of the market could catch up and I think that would be good news."
Goldman Sachs: It has indeed been a long time since the last adjustment, but the US stock market is not expensive.
Goldman Sachs pointed out that the last time the S&P 500 index fell by more than 2% in a single day was in December 2022. Since then, the US stock market has been on an overall upward trend and has continued for 376 days. Moreover, the US stock market is not currently in an 'overvalued' state, with the P/E ratio of the top 10 market cap stocks in the S&P 500 index being about 30 times, compared to about 47 times during the peak of the 2000 internet-related bubble.
No Stopping S&P 500's Record Rally as Nvidia Beats Microsoft| Wall Street Today
There's no stopping the S&P 500's record rally. As usual, the benchmark got a boost from Nvidia, which bumped off Microsoft as the world's most valuable company.
S&P 500 Notches Fresh Record as Nvidia Unseats Microsoft as Top Stock
The S&P 500 notched another intra-day record, as semiconductors continued to hog the limelight, with Nvidia bumping off Microsoft as the world's most valuable company.
Stock Market Today: S&P 500, Nasdaq Notch Records as Nvidia Takes Crown From Microsoft as Most Valuable Stock
US stocks notched new record highs on Tuesday, continuing a furious AI-driven rally as Nvidia (NVDA) surpassed Microsoft (MSFT) to become the most valuable public company.