The S&P 500 ended marginally up on Friday after US and Iranian negotiators were exploring a phased path out of war. Despite that, Iran will make no nuclear concessions, Iranian official says.
US stocks historically experience a period of weakness whenever the Fed begins a new cycle of interest rate hikes. Rate setters signalled there could be another rate hike by the end of the year.
The market proves resilient as robust corporate profits have outweighed risks including spiking oil prices and rising bond yields. Still investors are bracing for potential downside in the near term.
The current hiking cycle is expected to be relatively short and shallow compared to the previous ones. Treasury yields have pushed past the key 5% threshold, hitting their highest levels in nearly two decades.
Goldman Sachs noted AI users would need to generate approximately $1 trillion in annual spending on AI applications to ensure that hyperscalers achieve solid returns on investment.
JPMorgan Chase estimated in June that $4.1 trillion in AI-related debt will be issued through 2030, as data centre companies and others tied to the artificial intelligence boom race to build up capacity.
EBC Financial Group analyst says that the S&P 500 was fundamentally in a "breakout or fakeout" junction. A clean daily close above 7,736 would expose 7,800, otherwise it could retreat towards the 50 SMA.
Asset Recap
As of market close on 25 September, among EBC major products, Aehr Test Systems shares led gains. Oppenheimer initiated coverage on the company with an Outperform rating and a $120 price target.
Intel shares were sliding, giving back a slice of one of this year's most extraordinary runs among large-cap technology names. The plain reading of the session was profit taking.
Oil prices dropped, driven down by growing expectations of a US-Iran ceasefire and rumours of a potential US ban on diesel exports. However, Houthi rebel launched fresh attacks on Saudi Arabia.
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