The real bull market—not Wall Street | Wilnesh News

This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

S&P hits record 37th
this S&P 500 Index closure Breaking through 5,600 for the first time Thursday before Inflation data, which could provide evidence for a rate cut. The index rose for the seventh consecutive session and hit its 37th closing high this year. this Nasdaq Index It also hit a record high. this Dow Jones Industrial Average An increase of 258 points. Chip stocks were among the winners, with Advanced Micro Devices It has since risen nearly 4% Agree to acquire Silo AI. Industry leader Nvidia jumped up apple The seventh consecutive all-time high. 10-Year Treasury Bond Yield Ministry of Finance slipped and fell at the same time US oil prices rose for OPEC forecasts strong demand. You can read more What to expect from the inflation report here.

Archygos Huang Guilty
Founder of Archegos Capital Management Bill Hwang found guilty of fraud and other charges Selected by a Manhattan jury. Prosecutors allege Hwang and his deputy, Patrick Harrigan, lied to banks to obtain billions of dollars to boost stock prices. Argogos collapses 2021. They face up to 20 years in prison on each conviction.

Google ‘abandons deal’
pivot pointof Share price plummeted 12% Bloomberg reported that letter The software company will not be acquired. The news comes amid increasing regulatory scrutiny of proposed big tech acquisitions, including Amazon and Microsoft. The acquisition of HubSpot, which specializes in marketing automation software for small and medium-sized businesses, will increase Google’s business software revenue and diversify Alphabet’s product portfolio.

Samsung smart ring
Samsung Galaxy Ring Revealed, its first smart ring, aims to expand its health tracking ecosystem and rival Apple’s advances in the field. The lightweight ring with 24/7 health monitoring sensors comes amid slowing smartphone sales, prompting device makers to explore new revenue streams. Samsung is betting on the health-tracking capabilities of the Galaxy Ring and its new products. AI-enhanced foldable smartphoneto increase its market share.

Tesla Meme Stock
Renowned investor and Pimco co-founder Bill Gross believes in Elon Musk Tesla act like speculative behavior of retail investors. “Tesla is behaving like a meme stock — fundamentals are slipping and price is skyrocketing,” the former chief investment officer and co-founder of Pimco said in a post Tuesday afternoon. “But There seems to be a new meme stock popping up every other day now. Most are pump-and-sell. Tesla has gained 11 consecutive days and is up 44% since June 24.

(PRO) Revenue doubled
Needham analyst Laura Martin raised her price target apple to $260, up 13.7% from recent levels. Even though Apple shares outperformed the market S&P 500 Index This year, their earnings are smaller than tech-heavy companies Nasdaq Index. Martin believes Apple can double revenue – That’s it.

The S&P 500 hit a record high for the 37th time. That may sound impressive, but the market is moving higher on the back of a handful of large-cap stocks. However, there’s another market that’s in the midst of a broad-based bull run – accelerating higher 17 of the 27 trading days in June hit record highs.

India’s Benchmark NSE Nifty 50 It’s up nearly 12% this year. Not to be outdone, India’s S&P BSE Sensex has surged nearly 11% so far this year.

“India is a completely unique case on its own,” Ruchi SharmaRockefeller International chairman told CNBC. “This is the most expensive market in the world today. This is a country that has a real bull market, even compared to the United States. The breadth of the bull market in India is what you usually see in a bull market – everything is going up there, Small and mid-cap stocks performed better than large-cap stocks.

this indian election This appears to be nothing more than a blip on the radar – Prime Minister Narendra Modi’s continuity and prospects for economic growth are already providing strong momentum to the market. Although, Modi’s recent visit to Moscow has caused concern in Western countries as they try to shore up a Aligned with Russian President Vladimir Putin.

“I wouldn’t say geopolitics is the main risk for emerging market investors,” Sharma said. “In fact, if anything, I think we’ll look back at history when the U.S. used the weaponization of the U.S. dollar to do so in an unprecedented way. The move to impose sanctions on Russia has triggered countries to try to find their own alliances and try to reduce their dependence on the U.S. dollar.

“That’s why the price gold The performance has been so good that central banks around the world are buying gold in record amounts. I think emerging markets outside of India are very cheap.

Back on Wall Street, the S&P climbed above 5,600 for the first time — Nvidia, apple and Tesla Large-cap stocks continue their unstoppable rally. Many investors are wondering whether other stocks will stage a comeback.

“yes mean reversion Sharma asked.

— CNBC’s Jeff Cox, Brian Evans, Samantha Subin, Yun Li, Arjun Kharpal, Alex Harring, Spencer Kimball and Jesse Pound contributed to this report.