S&P 500 Hits New High, AI Boosts Tech and Beyond
Schwab Network · Schwab Network
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Show Notes
A solid start to the 4th quarter saw the S&P 500 notching a record close, shrugging off government shutdown jitters and a weak ADP jobs report. Tim Anderson attributes the resilience to market fatigue with shutdown threats and expectations of another Fed rate cut in October. Anderson believes the AI revolution is in its early innings, driving tech stocks like Apple (AAPL), Nvidia (NVDA), and Tesla (TSLA) higher, while also benefiting healthcare and utility names. Despite weakness in consumer-driven stocks, Anderson sees a strong earnings season ahead, with a focus on guidance from banks on consumer exposure and capex spending.
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