AI, Big Tech And Blue Chips: These 3 Charts Signal Shift In The Market
Portfolio Pulse from Piero Cingari
Tech giants faced a downturn while the Dow Jones Industrial Average continued to shine. The Dow Jones, represented by the SPDR Dow Jones Industrial Average ETF (DIA), ended with its ninth consecutive session in the green. The Nasdaq 100 Index, mirrored by the Invesco QQQ Trust (QQQ), experienced a sharp daily decline of 2.5% due to disappointing Q2 results from Netflix (NFLX) and Tesla (TSLA). Large tech stocks such as Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG, GOOGL), Amazon (AMZN), Meta Platforms (META), and NVIDIA (NVDA) also recorded sharp drops. The Global X Artificial Intelligence & Technology ETF (AIQ) fell 2.7% in a single day.
July 20, 2023 | 8:40 pm
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NEGATIVE IMPACT
The Global X Artificial Intelligence & Technology ETF (AIQ) fell 2.7% in a single day.
The sharp drop in the AIQ ETF is likely to negatively impact its price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
The Nasdaq 100 Index, mirrored by the Invesco QQQ Trust (QQQ), experienced a sharp daily decline of 2.5%.
The sharp decline in the Nasdaq 100 Index, mirrored by QQQ, due to disappointing Q2 results from tech giants, is likely to negatively impact the price of QQQ in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Dow Jones, represented by the SPDR Dow Jones Industrial Average ETF (DIA), ended with its ninth consecutive session in the green.
The Dow Jones, represented by DIA, has been on a positive streak, which is likely to attract more investors and potentially drive the price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100