Nasdaq hits high despite Nvidia lagging

This report is from today’s CNBC Daily Open, international markets bulletin. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. As you see? You can subscribe here.

Losing streak for the Dow
The Dow Jones Industrial Average lost 0.25% for eighth straight day of lossesLongest streak since 2018. The S&P 500 It gained 0.38% Nasdaq Composite It advanced 1.24% to close at a new high. All over Europe Stoxx 600 index It decreased by 0.12%. of France CAC 40 It fell 0.71% after Moody’s on Saturday was lowered the country’s credit score from Aa2 to Aa3.

Edit: Nvidia
Nvidia shares fell 1.7% to close at $132 on Monday. That’s down about 11% from a November high of $148.88 In the Nvidia patch area. However, Nvidia is still up 166% this year, and the correction does not indicate a sustained downtrend. Moreover, other chip manufacturers, e.g Broadcomstill have gives strength forward.

The clock is ticking
Monday, TikTok appealed to the US Supreme Court to view the blocking request a law can be efficient ban the application in the country Until January 19. On the same day, TikTok CEO Shaw Zi-Chew met US President-elect Donald Trump at the Mar-a-Lago club, NBC News confirmed.

The son shines in the USA
During Trump’s visit to his Mar-a-Lago residence on Monday, Softbank CEO Masayoshi Son announced 100 billion dollars investment in the USA over the next four years. In a joint announcement with Trump, Son also pledged to create 100,000 jobs focused on artificial intelligence and related infrastructure.

(PRO) ‘The Market Is Melting’
It’s on the market in the price On Wednesday, the US Federal Reserve cut interest rates by more or less a fixed 25 basis points. But if a rate cut happens, the Fed “runs the risk of a market meltdown,” which could send stocks lower. pull back from the highsEd Yardeni, president of Yardeni Research, told CNBC.

Except that’s what makes Nvidia and its shareholders nervous investigation By a Chinese regulator, there was no other major bump in the road: Essentially, the company’s fundamentals stable.

As Keith Lerner, Truist’s chief investment officer, noted, Nvidia’s position in the semiconductor and artificial intelligence industries remains unchanged. “You need Nvidia, and you need their chips for infrastructure,” Lerner said. “But I think what the market is saying is that there are other beneficiaries.”

Despite Nvidia’s fall, the Nasdaq Composite closed at another record high, signaling a turnaround in other semiconductor and AI-related stocks.

Most notably, Broadcom stock hit the accelerator, advancing on a glowing backdrop on Friday and Monday. fourth quarter earnings report and increased price targets by banks.

“Momentum is driving this stock. I don’t think momentum will kill it quite yet, but momentum is doing what momentum does, which is trying to fly higher,” said Kim Forrest, chief investment officer at Bokeh Capital Partners.

The main difference between playing the stock market and Mario Kart is that the latter is a zero-sum game – if your friend wins, you lose – but the former is not always the case. You can own both Nvidia and Broadcom and benefit from whichever is the leader of the race.

– CNBC’s Ari Levy, Samantha Subin, Brian Evans and Jess Pound contributed to this report.