The Nasdaq led the way yesterday with a solid advance, even as the Dow dipped. Today, equities are broadly higher along with gold, silver, and crude oil. Treasuries and the dollar are flattish.
Enthusiasm for Artificial Intelligence (AI) and the tech that powers it remains as high as ever. So, investors were VERY interested to hear what Nvidia Corp. (NVDA) CEO Jensen Huang had to say yesterday at the mammoth CES consumer electronics conference in Las Vegas. He didn’t disappoint, unveiling “physical AI” tools aimed at improving robot performance...new chips for the automotive market...and a high-end supercomputer designed for researchers and scientists.
NVDA shares were already up more than 180% in the 12 months heading into the event. Now, they’re trying to break out above previous technical resistance to a fresh all-time high above $150.
Nvidia Corp. (NVDA)
Data by YCharts
US-China tensions ratcheted up another notch overnight, and investors in Chinese-domiciled companies are feeling the pain. The Department of Defense called out several Chinese companies for their alleged links to China’s military, a “blacklisting” that doesn’t carry formal sanctions but that makes US firms more reluctant to deal with them.
Among those named were game publisher and Internet business operator Tencent Holdings Ltd. (TCEHY)...a major Tesla Inc. (TSLA) supplier called Contemporary Amperex Technology Co. Ltd…and the oil giant Cnooc Ltd. TCEHY shares fell here in the US, while Cnooc dropped in Hong Kong trading. The iShares China Large-Cap ETF (FXI) is one of the most popular ways to play Chinese stocks here in the US. It rallied strongly in Q4 2024 on stimulus plans, but has been taking on water in the last several weeks.
Finally, I’ll be continuing to release more recommendations from the MoneyShow 2025 Top Picks Report in your newsletter and on the MoneyShow website throughout the month. You can also download and view the FULL 90-page report in PDF format by clicking HERE. This behemoth is chock full of picks you can put to work in your portfolio – so definitely check it out!
