2023-05-26 22:39:44
The mania surrounding artificial intelligence sent stock markets Friday to new gains, with investors also growing confident in reaching an agreement on the debt ceiling in the United States.
The “Standard & Poor’s 500” index rose by 1.3%, and the “Nasdaq 100” index, which gives a higher relative weight to technology stocks, added 2.6% to its value following the “Marvell Technology” company announced that its revenues in 2024 “will double over The lowest” compared to the previous year, and the company attributed this to the high demand in the artificial intelligence sector, benefiting from the feelings of confidence that sparked the electronic chip maker, its rival, “Nvidia” earlier this week.
The rise comes as the two US negotiating teams also appear to be closing in on an agreement to raise the US debt ceiling and cap federal government spending for two years.
A failure of the United States to meet its obligations might cause catastrophic damage, putting markets on the brink of crisis. However, Speaker of the House Kevin McCarthy expressed his belief that the negotiations made progress last night.
Wall Street leaders warn of the dangers of America’s debt default
“Today we got a boost from the debt ceiling news as well as continued investor enthusiasm for AI,” said John Kolovos, Head of Technical Strategy at Macro Risk Advisors.
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