Semiconductor Selloff and Rising Layoffs Drag on Markets
The weight of high AI growth expectations and valuations appears to be catching up to the Semiconductor sector. Last night Marvell Technologies beat the street by a penny on both EPS and guidance. That news, however, clearly was not good enough for many investors as Marvell shares are down 18.6% premarket and dragging other chipmakers […]
Flash PMI Surveys and Earnings Spark a Stock Rally
Investors have responded positively to Flash PMI numbers from Japan, Europe and the UK overnight and into this morning. The first peek at February economic conditions has been mixed as Service surveys came in better than expected, but Manufacturing surveys came in softer than expected. Markets are also digesting a positive response to Nvidia’s* earnings […]