Shesa's FEBRUARY 2024 Investment Blog
By Shesa Nayak U.S. Stock Market Update The U.S Stock Market kicked-off the year on a pessimistic note. But the market slowly started picking up from Monday, January 8. Moreover, the rally got further momentum after CPI, PPI report and good earnings from semiconductor giant Taiwan Semiconductor. The chip sector got ignited with the hope that chip sector would have great earnings due to the adoption of Artificial Intelligence (AI) and renewed interest in chip demand. All stock indexes except Nasdaq has hit all-time high. Nasdaq is on a striking distance to hit all-time high if earnings from tech giants are on track. For the first time DOW went past 38000. The gap between large-cap tech stocks and small- and mid-cap stocks have grown unprecedentedly wide. By and large, Big Tech stocks are technically overextended and fundamentally overvalued, while small- and mid-cap stocks are technically and fundamentally oversold. We are in the middle of Q4 earnings. Most of the big ...