Microsoft, Micron and Meta Make News. Here's What the Updates Mean for Our Stakes
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- S&P 500 is slightly lower, with tech and consumer discretionary stocks weighing it down ahead of earnings season.
- Energy sector is positive, with the Energy SPDR ETF reaching a new intraday all-time high.
- Nvidia shares slid after Microsoft announced scaling of its custom AI accelerators.
- Meta Platforms launched its latest AI model, Muse Wonder, to be accessible to monthly paid subscribers.
- Micron's board authorized an additional $33 billion in share repurchases, effective December 9th.
- Upcoming earnings reports include Goldman Sachs, Wells Fargo, and Johnson & Johnson.
- Key economic data releases include the NFIB Small Business Optimism Index and existing home sales.