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It's shaping up to be a tough summer for the stock market, but Nvidia could help salvage things

May 20, 2024 - businessinsider.com
The article discusses the current state of the stock market, with a focus on the summer months which have historically been tough on stocks. It mentions that the S&P 500 has averaged about a 2% gain from May through October since 1990, which is considerably less than the average performance from November through April. However, despite the market reaching record highs this month, some market experts predict that stocks are on track to either remain flat or turn negative due to factors such as high stock prices, the possibility of a recession, and the upcoming election in November.

The article also highlights the performance of Nvidia, a key player in the AI industry, whose stock has increased by about 12% since March. The company is set to report its earnings for the fiscal first quarter of 2025, and a strong performance could boost the market's confidence in the potential of AI. Other topics covered in the article include Warren Buffett's cash stockpile, the salaries for AI roles in banks, and the future of in vitro fertilization with the help of robots.

Key takeaways:

  • The summer months have historically been tough on stocks with the S&P 500 averaging about a 2% gain from May through October since 1990.
  • Market experts predict that stocks are on track to either remain flat or turn negative due to factors such as high stock prices, potential recession, and the upcoming election.
  • Nvidia, a key chipmaker in the AI space, could potentially salvage the market situation with its upcoming earnings report.
  • Other news include Warren Buffett's Berkshire Hathaway sitting on $189 billion in cash, the future of IVF with AI and robots, and Oracle's failed bet on revolutionizing healthcare.
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