Market Update: Dow Jones Index Falls, S&P 500 and Nasdaq Retreat Amid AI Stock Decline - Is It Time to Sell Nvidia?

Money | June 21, 2024, 12:45 a.m.

Stock futures for the Dow Jones, S&P 500, and Nasdaq show promise for Friday after a mixed Thursday session. Nvidia and other AI chip leaders faced some volatility, while Meta Platforms now has a lower buy point with a handle. Chipotle Mexican Grill saw a retreat, and the broader market experienced some pullback. The Dow Jones Industrial Average had a solid day, rising 0.8%. Investors are keeping an eye on the 10-year Treasury yield, which increased slightly to 4.26%. Nvidia stock, while hitting record highs, has some investors considering taking profits. Other AI chip plays like ARM, Broadcom, Micron, and Taiwan Semiconductor saw mixed performances. Elon Musk's comments led to gains for Super Micro Computer and Dell Technologies before they erased them. Meta stock has a new buy point, and Chipotle stock faced a decline. Overall, the market remains positive, with investors advised to stick to their selling rules for winning stocks.