Nvidia Powers Stock Market to Record Highs with Blockbuster Earnings

Unique Points

• The Dow Jones Industrial Average (DJIA) rose to close at a fresh record on Friday, September 23, 2022.
• The S&P 500 index ended the week higher but was little changed on Friday.
• UBS Private Wealth Management wealth manager Greg Marcus believes that investors should take advantage of market volatility to buy into big tech stocks, citing the artificial intelligence theme and strong balance sheets and earnings growth potential as characteristics that can weather a higher interest rate environment.
• Consumer staples sector led S&P 500 sector gains for the week with around 2.2% increase in value.
• Hormel Foods, Kraft Heinz, and Conagra Brands are among the companies leading consumer staples' growth this week.

Accuracy

No Contradictions at Time Of Publication

Deception (30%)

• The article uses sensationalism with phrases like 'buy the dip' in big tech stocks.
• The article contains a statement that is not supported by any evidence or peer-reviewed studies which implies facts without linking to them.
• There are statements made by an author other than Pia Singh and Brian Evans such as 'Drew Angerer | Getty Images'.
• The title is misleading as it states that S&P 500 hits all-time high when in fact it's little changed Friday but ends the week higher.

Fallacies (85%)

• Jamie Dimon's sale of JPMorgan Chase stock is used to support the argument that investors should buy the dip in big tech stocks
• The author uses inflammatory rhetoric by stating that there could still be more room ahead for gains in AI-adjacent big tech stocks
• Consumer staples and technology sectors are depicted as either outperforming or underperforming, respectively

Bias (85%)

• Consumer staples is referred to as the biggest outperforming sector while downplaying the performance of tech stocks
• The article refers to big tech companies as 'AI-adjacent'
• The wealth manager advises investors to buy into big tech stocks despite potential market volatility and higher interest rates

Site Conflicts Of Interest (50%)

• .
• (AMD) Advanced Micro Devices Inc.
• Jamie Dimon sells $150 million of JPMorgan Chase stock

Author Conflicts Of Interest (0%)

Unique Points

• The stock market mostly rose on Friday after the previous day's strong rally. Investors were still paying attention to chip maker Nvidia and watching to see how far the rally driven by excitement over artificial-intelligence technology can go.
• Nvidia shares reached a $2 trillion market cap for the first time in intraday trading, but finished below that milestone. It will look to close above that level for the first time next week.

Accuracy

No Contradictions at Time Of Publication

Deception (50%)

• Nvidia shares rose 1.4% to $795.96, but were shy of $800.

Fallacies (85%)

• The stock market's performance as a 'rally driven by excitement over artificial-intelligence technology'
• Louis Navellier & Associates founder stating that attention will turn to next week's Personal Consumption Expenditures data, which is watched closely by the Federal Reserve

Bias (80%)

• The article describes Nvidia's performance in terms of its earnings report and how it sparked enthusiasm for other large tech stocks that traders believe will benefit from artificial intelligence investments. This implies that the company's success is a positive thing, which could be seen as an example of religious bias.
• The article describes Nvidia's performance in terms of its market cap and mentions how it briefly held a $2 trillion market cap before falling back below the key $800 level. This implies that having a high market capitalization is desirable, which could be seen as an example of monetary bias.

Site Conflicts Of Interest (50%)

• The author is a financial analyst at Louis Navellier & Associates, which has previously written articles for Barron's on topics related to artificial intelligence technology. This could create a conflict of interest if the firm has financial ties to companies in that industry.

Author Conflicts Of Interest (0%)

None Found At Time Of Publication

Unique Points

• The Nasdaq (IXIC) shot up nearly 3% on the heels of Nvidia's results
• Nvidia reported a 265% rise in revenue and laid out very upbeat guidance
• Nvidia shares climbed about 16% to hit a record high
• Both the S&P 500 and Dow Jones closed at record highs on Thursday
• The Fed's latest minutes showed most officials want to tread carefully on rate cuts, seeing risks in moving too quickly

Accuracy

• The Nasdaq Composite closed just shy of a record high while the Nasdaq 100 (NDX) rose more than 3% to an all-time high on Thursday
• Nvidia added $277 billion to its market cap on Thursday, the largest single day increase ever

Deception (50%)

• It quotes a source stating that the Nasdaq 100 moved more than 3% and hit a record high on the same day as in March of 2000 without providing any evidence for this statement.
• It states that Nvidia's CEO said generative AI has 'hit the tipping point' but fails to provide any data or context to support this claim.
• It states that Nvidia's earnings beat sky-high expectations but fails to provide any context or data to support this claim.
• The title claims both S&P 500 and Dow Jones closed at record highs on Thursday when only one of them did.

Fallacies (85%)

• The tech-heavy Nasdaq (^IXIC) shot up nearly 3% on the heels of <em>the chipmaker&apos;s results</em>, while the S&P 500 (^GSPC) jumped about 2.2%. The Dow Jones Industrial Average (<strong><span style='font-weight:bold'>DJI</span></strong>) popped almost 1.2%, or more than <em>400 points.</em>

Bias (85%)

• <em>Nvidia shares climbed about 16% to hit a record high.</em>
• <strong>Amid the ebullience, an assessment of the Fed’s next move appeared to be on the back burner.</strong>
• The tech-heavy Nasdaq (^IXIC) shot up nearly 3% on the heels of Nvidia's results

Site Conflicts Of Interest (50%)

• Karen Friar writes:

Author Conflicts Of Interest (50%)

• Karen Friar writes,