Idea Capitalists | An Idea Is Only As Good As It's Execution
The fourth trading week of May 2023 had started out to be a gloomy one for the S&P 500 (Index: SPX ). Several Federal Reserve officials signaled early in the week they were considering continuing the Fed's ongoing series of rate hikes in June because of their concerns U.S. inflation has not sufficiently abated.
That potential was enough to send the index down nearly 1.9% from the previous week's close by Wednesday, 24 May 2023.
But the fear that dragged stock prices down reversed during the next two trading days, as a "Unprecedented. Cosmological. Unfathomable." earnings report and outlook from Nvidia (NASDAQ: NVDA) sparked a speculative fury benefiting information technology firms advancing on the potential of their new Artificial Intelligence (AI) systems.
Idea Capitalists | An Idea Is Only As Good As It's Execution