A head-in-the sand approach often works well, until you have to eventually confront the problem. The stock market hasn't reached that point yet, it's still ignoring the bond market and powering toward record highs. That's either very brave or very foolish.
The technology-heavy Nasdaq Composite was set to rise again Tuesday after reaching an all-time closing high Monday, and the S&P 500 is on track to test its record, too. That's all while Treasury yields have risen to decadeslong highs ahead of another big test today.
The megacap tech stocks have been doing the heavy lifting. Nvidia closed at a record high Monday and suddenly isn't far off reaching a staggering $6 trillion market cap after rising 22% in just three months.
But for every Nvidia, there's a Nike. The sportswear giant got another downgrade and the stock was on track for a fresh 13-year low. The turnaround has been a challenge to say the least.
Another tough task awaits Paramount Skydance when it closes its ambitious $110 billion acquisition of Warner Bros. later on Tuesday.
Again, the line between bravery and foolishness can be very thin indeed.
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📈 Here's what's happening in markets today:
Tech rally rolls on after the Nasdaq hit a fresh record high.
Nvidia, Lucid, Nike, and more stocks that explain today's market.
Nvidia stock chases $6 trillion mark. How it gets there.
Micron stock's make-or-break year -- mark your calendars.
Seagate stock is falling. The hot memory play has a big Toshiba problem.
Nike picks up another downgrade. Why the market shift is 'irreversible.'
SpaceX stock keeps getting 'cheaper and cheaper.'
Constellation Energy rises. What a Google nuclear deal would do for it.
Lucid drops on delivery report. How shares can rise 90%.
💻 Why Intel doesn't need Elon Musk as much as we think
It was seemingly bad news for Intel when Elon Musk, CEO of SpaceX and Tesla, signaled that Taiwan Semiconductor Manufacturing was exploring work with his chip venture Terafab. Musk said on X that TSMC could supplement rather than replace Intel's role there. Read here what it could mean for Intel stock.
🎥 Paramount will be risky after Warner Bros. deal
Paramount plans to change its name to Skydance today when its merger with Warner Bros. Discovery is completed. The tough task remains: it needs to integrate a much larger company, plus generate extremely high projected financial synergies. It also aims to slash its debt at a time when the combined companies' largest business, TV networks, is in decline.
🗳? What the midterm election results mean for companies
Recent polls are showing Democrats making gains in advance of the midterm elections, where control of the House and Senate will be at stake. Several industries, including cryptocurrency and pharmaceuticals, could come under increased scrutiny if Democrats return to power. Read here for more details.
🤖 Ives has a new AI fund and fresh scrutiny
Prominent research analyst Dan Ives is again expanding his constellation of artificial intelligence business interests. His latest venture, an Ives-branded closed-end fund that raised $200 million last week, adds a new layer to Ives' overlapping business interests, something Barron's has investigated. Read here for more on Ives' latest move.
🚀 Nvidia stock hits a record. Why it can keep rising.
Nvidia stock hit a record high as results from its AI server partner Foxconn suggest the chip maker should have plenty of momentum to keep moving higher. Investors seem to be gaining confidence that a company with a $5.6 trillion valuation can still be undervalued. Read more about it here.
🛒 Why Wall Street might be wrong to hate consumer stocks
Wall Street lacks confidence in the consumer, especially lower-income shoppers. However, that pessimistic outlook might be all wrong. Retail sales are still going strong, and the labor market has remained relatively steady. For more on why it isn't all doom and gloom, read here.
📰 Don't miss out on our other newsletters
Review & Preview: Artificial Highs?
View From the Circle: How to Position for When Market Breadth Returns
Energy Insider: LNG's Golden Age Could Last Longer Than Expected. These Stocks Benefit Most.
💊 Eli Lilly scores a win for pancreatic cancer drug
Eli Lilly has been out to prove it is more than just a leader in weight-loss drugs. That validation came in the form of a regulatory win for its experimental cancer treatment called olomorasib. Read more here.
💬 Quote of the day:
Other headlines moving markets:
Report of possible takeover bid sends Option Care Health stock higher.
A tale of two markets: Megacaps keep climbing, but rate fears hit others.
Why Boeing's stock isn't up more after good FAA 737 MAX news.
Lululemon's stock is in the doldrums. Here's what could turn things around.
Microsoft nears $4 trillion as AI safety fears become a selling point.
The case for buying these semiconductor stocks.
Brazil markets are betting on a right-wing comeback.
Lead vaccine candidate takes aim at Pfizer and Merck.
Sphere Entertainment hit by reports of cooling 'Wizard of Oz' demand.
DraftKings gets an upgrade. Prediction markets could be win-win.
This week's Treasury auctions could send yields even higher.
3 things investors need to know before buying Skydance.
Inside the big-money business of protecting data centers.
If history is any guide, high interest rates could be here for a good while.
-- Edited by Liz Moyer, Stacy Ozol, and Patrick O'Donnell