GoKawiil
Tech News
Jim Cramer noted that the S&P 500 has climbed roughly 118% since bottoming on October 12, 2022, despite Fed rate hikes, a banking crisis, tariffs and the Iran conflict. He cited that a $10,000 investment at the bottom would now be worth about $23,061, with Nvidia and Meta Platforms—both held by his Charitable Trust—delivering far larger gains of 1,875% and 488% respectively.
Wall Street saw another volatile week as the Federal Reserve raised interest rates a quarter point to a range of 3.75%-4%, its first hike in three years, while renewed concerns about AI safety rattled tech stocks. The Dow fell 1.7% for its third consecutive losing week, led by steep declines in bank stocks including Goldman Sachs, which dropped nearly 8.5%. The S&P 500 and Nasdaq held up better, with the Nasdaq even gaining slightly as investors bought back into AI names after an early sell-off, while oil price swings tied to Mideast tensions added further pressure on companies like Boeing and FedEx.