The S&P 500 (^GSPC -1.21%) has soared higher over the past few months, putting the famous stock market index up 18% over the past year. At approximately 20.4 times expected earnings, the S&P 500 has become notably more expensive than its 30-year average of 17.2.
SpaceX stock (SPCX) closed just above $115 on Wednesday, nearly 20% below its June IPO price, while its 2056 bonds sank to a record low below 89.
The dual decline pushed the bonds’ yield to worst to 7.6% and reignited talk of an AI-driven valuation reset across stocks and crypto.
» Read more about: SpaceX is a Warning For Crypto and Tech Stocks, Peter Schiff Says »
Space Exploration Technologies (NASDAQ: SPCX) has grand ambitions, including sending humans to Mars. This may require breakthroughs in space travel even more impressive than those the company has already achieved. It’s not surprising, then, that Ark Investment Management — a firm led by the famous investor Cathie Wood, a staunch believer in the power of innovation —
Big tech and artificial intelligence (AI) stocks have been the driving force behind the magnificent ongoing bull market that’s been charging for the past three-plus years.
But in recent months, big tech stocks have sputtered as investors have grown wary of historically high large-cap valuations and concerns about whether the massive investment in AI infrastructure will actually pay off.
» Read more about: 2 Vanguard ETFs Built to Thrive as Big Tech Loses Its Market Grip »
MU stock, however, declined in overnight trading, tracking a sharp sell-off in the South Korean market.
On Thursday, the S&P 500 posted its biggest drop in a month, while the Nasdaq fell for a third straight session to a more-than one-month low.
Retail sentiment for MU and peer memory stocks was ‘bearish’
A mutual fund offers investors access to a professionally managed portfolio of securities. Since investors have different financial goals, investment horizons, and risk preferences, there are various types of mutual fund schemes designed to cater to different investment objectives.
Understanding these categories can help investors make informed decisions when considering a mutual fund investment.
» Read more about: Mutual funds explained: Types, features and how to choose the right one »
