Closing post
Time to wrap up….
Shares in Nvidia have jumped 3% in early trading, as the AI chipmaker recovers some ground after three days of big losses.
Today’s rally lifts Nvidia’s value by around $90bn, back to almost $3trn.
Over half a trillion dollars had been knocked off Nvidia’s value in recent days, before today’s tentative recovery, shortly after it became the world’s largest company last week.
Nvidia $NVDA share price as a multiple of forward earnings. pic.twitter.com/BAGJvflF0z
— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) June 25, 2024
Brussels has accused Microsoft of anti-competitive behaviour by bundling its Teams app with its Office suite, potentially teeing up a large fine for the software giant:
US consumer confidence dips
US consumer morale has dropped this month, a new survey shows, but was stronger than expected.
The Conference Board’s consumer confidence index dipped in June to 100.4, down from 101.3 in May. Economists had expected it would fall more, to exactly 100.
The decline was due to a deteriorating short-term outlook for income, business, and conditions in the jobs market.
Dana M. Peterson, chief economist at The Conference Board, explains:
“Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labor market views continued to outweigh concerns about the future.
However, if material weaknesses in the labor market appear, Confidence could weaken as the year progresses.”
📈😁Americans are feeling confident! June Consumer Confidence print rolls in at 100.4 bs 100.0 est. @BizTalkTodayTV pic.twitter.com/iARUdtZlSN
— BuyHoldSellTV (@BuyHoldSellTV) June 25, 2024
