Nvidia, Wall Street
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The U.S. stock market is rising ahead of a huge couple of tests for Wall Street. The S&P 500 added 0.4% Wednesday after trimming an earlier jump of 1.1%.
Warnings about Wall Street's excessive optimism, concentration risk, and frothy valuations have fallen on deaf ears for most of this year, leaving market-watchers wondering what, if anything, will cool the tech and artificial intelligence frenzy.
Wall Street finished Tuesday's trading session to the downside on a day that watched the Nasdaq Composite plunge as much as 2%.
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1 Popular Quantum Computing Stock to Sell Before It Falls 20%, According to a Wall Street Analyst
Rigetti Computing has been one of the most popular quantum computing stocks over the last year. While shares of Rigetti posted big gains over the last 12 months, the stock appears to be entering a downward spiral.
Stock barometers may be calmer early Wednesday, but signs of residual tension can bee seen in option markets. The Cboe Volatility index (VIX), an option-derived measure of expected movement in the S&P 500 that's known as Wall Street's fear gauge,
U.S. stocks ended a choppy session higher on Wednesday, bouncing off recent losses as technology stocks rose ahead of Nvidia's quarterly results. Nvidia shares gained more than 5% after ending the regular session up 2.
The ongoing Bitcoin crash has claimed a major casualty: BlackRock (NYSE: BLK). Yes, the world's largest asset manager recently suffered its worst-ever rout when its spot Bitcoin exchange-traded fund (ETF) saw the largest sell-off in a single day.