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UnitedHealth Group Incorporated's (NYSE:UNH) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
After the first televised debate for the US presidential election, the first wave of market reactions has arrived!
According to Goldman Sachs, the overall market activity on Friday experienced an explosive growth. Although US inflation cooled down in May, the long-term US Treasury yields reversed the early decline and soared at the close. Barclays recommends buying inflation-protected assets in preparation for Trump's victory.
Top 20 turnover | Super micro computer fell by 7.98%, skyrocketed by 188% in the first half of the year; performance is expected to be bleak, Nike plummeted by 20%.
On Friday, Nvidia, the stock with the highest trading volume on the US stock market, fell 0.36%, trading at $38.914 billion, maintaining a market cap of over $3 trillion. The stock fell 2.4% this week, rose 12.7% in June, and nearly 150% in the first half of the year. NVIDIA's stock price is now in a high-end shock, but according to Jackson, the hedge fund manager at EMJ Capital, the stock is still cheap if calculated based on earnings per share, and he expects NVIDIA's stock price to continue to rise. It is expected to reach $250 by the end of this year on the basis of its current stock price, which is a doubling. If this prediction comes true, Nvidia's market cap will exceed $5 trillion this year.
US stocks closed lower on the last day of June with all three major indexes down. The AI-driven Nasdaq rose 18% in the first half of the year, while Nvidia soared 149%.
After hitting a new high, the S&P and Dow fell together, possibly due to Goldman Sachs and JPMorgan bearish on US stocks. Amazon, Google, and Microsoft fell from their recent highs, while most chip stocks rose. However, Nvidia rose 3% before falling 0.4% as the AI hype drove the Nasdaq up 18% and the S&P up 14.5% in the first half of the year.
Harbor Capital Appreciation Fund's Strategic Moves in Q2 2024: Spotlight on UnitedHealth Group Inc