Nvidia’s Good Week

Since last week: 

Even as the overall market had a rough week, certain tech companies did well. 

Nvidia’s Good Week.

1. Retirement Worries

According to recent polling, only 43% of working adults believe they will be able to save enough money to retire comfortably. The ongoing cost of living crisis and worries about the future of Social Security are big contributors to that feeling. This increasingly grim economic outlook proves that it’s best not to leave anything to chance when it comes to your finances. Take control of your investments and build a portfolio that will prove to be resilient. 

2. Nvidia Rises

Nvidia led a market rally that had investors rushing into tech stocks tied to AI. Shares of Nvidia itself rose more than 20% thanks to sales and earnings that went above and beyond what analysts expected. The company is a leader in the space because its chips power AI applications and this rally shows just how strong demand is for anything related to AI. It’s a strong investment choice because it works for a range of sectors. 

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3. Ford Makes More Moves

Ford recently signed a lithium supply deal with EnergySource Minerals, helping the car company to establish its own sustainable supply chain of a key component of electric vehicle batteries. There’s a good reason deals like this are becoming increasingly common, and it’s a sign that you want to invest in lithium producers while you still have time.  

4. Copper Indicators

Copper is a major component in things like industry and electronics. Because it has such a wide range of uses, demand for it can be tied to economic health and outlook. Its price has been on the decline lately, falling around 10% in the last month. This creates an opportunity to get in on the metal at a discount because it will be one that rebounds greatly in the resource wars when things turn around. 

What to Look For:

Chances have gone up that there may be another rate hike announced at the next Fed meeting on June 13-14. Talk about that may get louder over the coming weeks if that thinking holds.

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Ryan Stancil

Ryan Stancil
Editor, Daily Profit Cycle