NVDA Oct 2024 21.000 put
| Previous close | 0.0100 |
| Open | 0.0100 |
| Bid | 0.0000 |
| Ask | 0.0200 |
| Strike | 21.00 |
| Expiry date | 2024-10-18 |
| Day's range | 0.0100 - 0.0100 |
| Contract range | N/A |
| Volume | |
| Open interest | 1.59k |
- Yahoo Finance Video
Patience 'could be a virtue' in current market: Strategist
After last week's tech-heavy sell-off, many investors took the opportunity to buy the dip. Slatestone Wealth chief market strategist Kenny Polcari joins Catalysts to discuss the current state of the equity market (^DJI, ^IXIC, ^GSPC) and how investors can best position their portfolios heading into 2025. "I think you have to take a broader look at where we think the market's going over the next six or seven weeks, just because we're in that seasonally weak time in the market, August through October. I think that the August lows of 5,116 [for the S&P 500] are likely going to be tested again, which means that as a long-term investor, you just need to be a little bit cautious," Polcari tells Yahoo Finance. He points to Nvidia (NVDA) as a buying opportunity since shares are down about 25% since its June high. He does not expect the stock to rally back up to its high, but rather, he sees it as "on sale" for long-term investors. "Now, if you're worried about further downside for the broader market and you think it's going to get dragged with it, well then just sit back a little bit and wait. I think, you know, for most of the clients, that's the conversation I'm having, just about being patient, because patience, in this case, could be a virtue," he adds. Polcari argues, "We're at the very infancy stages of AI. I think Nvidia sits at the nexus of this tech revolution that's happening." He expects more volatility in the stock as the AI race continues. However, in the long term, he views Nvidia as "a core name and a core portfolio." As the consumer discretionary sector (XLY) leads the market's charge for a rebound in Tuesday's trading session, Polcari is more bullish on consumer staples (XLP): "I think we're already seeing consumers run into problems. We're seeing people live on credit cards, and discretionary is just that — it's discretionary spending. Those are wants versus needs. So I would be cautious on that sector at the moment, and I'd be more focused on the staples sector. While it's boring... I think it plays nicely in an environment where you think it's going to be a little bit of a pressure on the broader market and on the consumer." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl
Yahoo FinanceNvidia's most prominent impact on the stock market 'may be behind' us: Morning Brief
Updates on the health of the US economy and what it could mean for the Federal Reserve, not Nvidia and the AI trade, appear to be moving the markets the most headed into the fall.
- Yahoo Finance Video
Nvidia's sell-off: Why this analyst is still bullish on the stock
Nvidia's (NVDA) stock has stumbled as investors grow concerned the AI demand hype may be slowing. Goldman Sachs lead analyst Toshiya Hari is still bullish on the stock for a couple of reasons. First, he says, "Demand for accelerated computing continues to be really strong," adding that it's more than hyperscalers looking to buy Nvidia's chips. Second, he thinks the company's competitive positive is still strong. He also thinks the stock has an attractive valuation and that the sell-off has been overdone. Investors have been increasingly scrutinizing the amount of money Big Tech has been spending on AI without much return on investment so far. Hari agrees that companies "need monetization for this to be sustainable," but he notes hyperscalers are seeing some return on those AI investments. He adds that if a lack of monetization becomes a problem, it will affect many companies, not just Nvidia. Watch the video above to hear what Hari has to say about companies like Amazon (AMZN) and Meta (META) developing their own chips. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Stephanie Mikulich.
