US equity markets (^IXIC, ^GSPC) — except for the Dow Jones Industrial Average (^DJI) — are coasting on positive intraday gains after Nvidia (NVDA) outpaced fiscal first-quarter earnings estimates in its figures reported after the bell on Wednesday.
Charles Schwab Chief Global funding Strategist and Managing Director Jeffrey Kleintop joins The Morning Brief to discuss where he expects outstanding sector performances to broaden out past the tech sector and AI megatrends, especially as international trade tensions percolate on President Biden’s new tariffs on Chinese imports and ban on selling semiconductors to China.
“It’s a safe place to find development in a global economy that’s been struggling for the past several quarters. but maybe that’s not the case anymore. I’m arguing for a broadening of sector performance outside of the tech sector, outside some of these AI darlings,” Kleintop says. “This morning we got the PMI data from Europe and it was booming. In fact, Europe is really coming out of the recession that it experienced last year and that means better development for more cyclical sectors.”
For more of everything Nvidia, catch Yahoo financial’s exclusive interview with chief executive officer Jensen Huang.
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