00:00The technology-heavy Nasdaq outperformed peers at close of the trade on Thursday, August 27,
00:05after cheap-maker Nvidia's bumper revenue forecast reaffirmed the strength of the AI boom
00:10and fuel gains in technology stocks.
00:12Nvidia shares jumped after the cheap company's robust forecast met lofty investor expectations,
00:18bolstering the view that the tech rally still has room to run
00:21as companies at the heart of AI build-up continue to deliver impressive growth.
00:26Well, the market's up pretty strongly today, particularly the Nasdaq.
00:30And the primary reason, of course, is Nvidia's earnings, which came out after hours yesterday.
00:36And what you can take away from that as an investor is that the hand-wringing over AI being a
00:44bubble
00:45is, I think, was solved last night when Nvidia raised their revenue growth guidance to 70%
00:51from 40% for next year.
00:54And it's in a supply-constrained environment.
00:57So if you think about their growth, which is 70%, what they're telling us is that demand is up 100%.
01:04Nvidia has warned that shortages of memory components could curb the pace of the industry's growth.
01:10The S&P 500 gained 55.29 points, or 0.72%, to end at 7,730.99 points,
01:19while the Nasdaq Composite gained 411.15 points, or 1.57%, to 26,501.35.
01:28The Dow Jones Industrial Average rose 105.56 points, or 0.20%, to 53,569.44.
01:39The rumor about Chairman Warsh's speech tomorrow is it's going to be about the pipes that drive monetary policy.
01:48I don't think it's going to be very interesting.
01:49I don't think he's going to say anything different than he has said before.
01:53And I don't really think it matters.
01:55The market will likely, you know, the stocks could sell off, the bond market could sell off.
02:02But we already know what he's planning to do.
02:05And Fed has already reduced their balance sheet expansion, which I believe is good news.
02:11So we are not expecting any new policy announcements.
02:16I don't think it's going to be a good news.
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