OpenAI Deal Fuels Chip Frenzy
A flurry of big AI deals are the latest bullish signal for chips, as equity markets notch another record high.
Key Takeaways
Markets Shrug Off Bearish Data and Shutdown: A negative ADP report, the seventh straight monthly decline in the ISM manufacturing PMI index, and the start of a government shutdown (with looming mass layoffs of federal government workers) did not matter for equity markets yesterday. The S&P 500, Nasdaq 100, and the Dow all notched new record highs (36th of the year in the case of the S&P 500).
