Nasdaq Futures Slip as Nvidia Retreats: Markets Wrap
How did Nvidia's valuation change after the recent stock drop?
Nvidia's valuation experienced a significant decline after the recent stock drop, losing more than $300 billion in value over a three-day period. This plunge followed a surge in demand for AI chips that had briefly made Nvidia the world's largest company.
What are strategists at Deutsche Bank predicting for US equities?
Deutsche Bank strategists, led by Binky Chadha, predict a strong performance for US equities. They have raised their 2024 year-end S&P 500 target to 5,500, banking on strong corporate earnings to support equity valuations4. The strategists see the earnings cycle having plenty of legs and market confidence in a continued recovery rising by year-end.
What does Emily Bowersock Hill say about current stock market valuations?
Emily Bowersock Hill says that while megacap growth stock valuations are stretched, stock prices have not decoupled from fundamentals as they did during the tech bubble of 2000. She adds that the market is rewarding companies for delivering strong earnings and punishing those that do not deliver.