S&P 500 gains less than 1% as investors await earnings season
The S&P 500 gained less than 1% last week, while the Nasdaq whipsawed back and forth, with semiconductors at the center of the trade.
The AI trade is being closely watched, with analysts looking for signs that it can persist. Memory chipmaker SK Hynix’s Nasdaq debut on Friday, where shares surged 14%, underscored strong market enthusiasm.
Investors are seeking opportunities in the memory trade, with some seeing potential in companies like SK Hynix, which could benefit from Micron’s inability to keep up with demand.