Shesa's AUG/SEPT 2023 Investment Blog
AUG/SEPT 2023 - INVESTMENT BLOG By Shesa Nayak U.S. Stock Market Commentary The stock market had a great run in the first half particularly some selected technology stocks were on fire. However, Fitch downgraded U.S rating from AAA to AA+ and since then all indexes started sliding, Nasdaq is down 4.6% in August. The Q2 earnings are almost over. Nvidia (NVDA) had a blowout earnings and company emphasized the longevity of the AI Boom . This is the company who has been a trend setter and market savior . But Wall Street is far more smarter than us. The spectacular earnings quickly turned into a deep selloff. It’s highly likely that AI will continue to transform the global economy over the next several years. As far as other tech companies are concerned, some of them reported good earnings notably Amazon, Google, Tesla, Meta. Apple and Microsoft also had reasonably good earnings but the forecast was nothing exciting. U.S economy remain strong. There is still lowest unemployment, cor...