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Stock market today: US stocks jump on fresh wave of AI enthusiasm

Mar 18, 2024 - markets.businessinsider.com
The stock market saw a surge on Monday due to renewed investor enthusiasm for artificial intelligence (AI), with Nvidia's shares jumping over 1% as it hosted its annual GPU Technology Conference. Additionally, Alphabet's stock price increased by about 5% following a Bloomberg report suggesting that Apple might use Alphabet's Gemini AI chatbot in its upcoming iPhone release. Investors are also closely watching the Federal Reserve's FOMC meeting on Wednesday.

In other news, millennial women are increasingly participating in the prime-age workforce, boosting the economy. Wall Street is betting on a soft landing for the US economy, avoiding a recession. A US-China trade war is predicted regardless of the 2024 Presidential election outcome. The Southern housing market is expected to remain strong due to favorable employment trends and affordability. Bitcoin could potentially reach $250,000 next year if inflows into bitcoin ETFs remain robust.

Key takeaways:

  • A renewed interest in artificial intelligence helped push the stock market higher on Monday, with Nvidia set to unveil new products at its GTC conference.
  • A report suggests that Apple and Google could strike a deal on AI, with Apple potentially utilizing Alphabet's Gemini AI chatbot in its upcoming iPhone release.
  • Investors are also focusing on the Federal Reserve's upcoming FOMC meeting on Wednesday, with expectations that the benchmark rate will remain unchanged.
  • Bitcoin could potentially soar 266% to $250,000 next year if inflows into bitcoin ETFs remain strong, according to Standard Chartered.
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