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Your daily horoscope: May 9, 2025

  IF TODAY IS YOUR BIRTHDAY A change of direction is a must this year as you have reached the end of your current journey and need a new challenge. Make a break with the past and make it one that cannot be reversed. Move forward fast and don’t look back. ARIES (March 21 - April 20): Someone you meet on your travels will catch your eye and maybe your heart as well. If it’s true that opposites attract you could find yourself getting close to someone whose charms are very different to your own – and remarkably the relationship will work. TAURUS (April 21 - May 21): Someone you think of as a friend will say something today that annoys you intensely. It may be the case though that they can see things that you cannot, so be open to what they tell you. They could be doing you a very big favor. GEMINI (May 22 - June 21): If you listen too much to other people’s advice today you could end up facing in several directions at once and ultimately getting nowhere. Pay attention to what friends a...

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AI Fever Drives U.S. Stocks to Record Highs Amid Inflation and Rate Cut Hopes

 


The U.S. stock market continued its upward trend on Monday, reaching new record highs amid optimism about the cooling inflation, the possibility of interest rate cuts, and the resilience of the U.S. economy. However, the gains were modest as investors awaited a busy week of economic data and corporate earnings.

The S&P 500 index edged 0.1% lower in early trading, after setting its latest all-time high this year and its 16th winning week in the last 18. The Dow Jones Industrial Average fell 145 points, or 0.4%, while the Nasdaq composite slipped 0.1%.

One of the main drivers of the market rally was the artificial-intelligence (AI) sector, which has seen some stocks soar to astronomical levels. Super Micro Computer, a provider of server and storage systems for AI and other computing, jumped another 18.7% on Monday, after more than tripling in 2024 and 2023. The company announced that it will join the S&P 500 index of the biggest U.S. stocks on March 18, replacing Whirlpool, which has been struggling with weak demand and trade tensions.

Another AI star was Nvidia, whose chips are powering much of the move into AI. The company rose another 3.7% on Monday, bringing its gain for the year so far to 72.2%, after more than tripling in 2023. The company has been benefiting from strong demand for its products in gaming, data centers, and autonomous vehicles.

However, some analysts warned that the market may be getting too euphoric about AI, creating a potential bubble that could burst. Savita Subramanian, equity strategist at Bank of America, said that the market is “euphoric on AI” and that "bull markets end with euphoria."

The market also faced some headwinds from the global front, as Turkey’s inflation surged to a 15-month high, raising concerns about the stability of the emerging market. Meanwhile, the European Union and the United Kingdom were locked in a dispute over vaccine exports, threatening to escalate trade tensions amid the pandemic.

Investors will be closely watching the upcoming economic reports and earnings releases this week, which could provide more clues about the health of the economy and the corporate sector. Some of the key events include the consumer price index, the retail sales, the industrial production, and the Federal Reserve’s policy meeting. Some of the major companies reporting earnings include JPMorgan Chase, Goldman Sachs, Netflix, and PepsiCo.

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