Wall Street Breakfast Big Tech drives Nasdaq rally
Dec 12, 2024
Discover the surge that propelled the Nasdaq past 20,000 points, driven by impressive performances from major tech players. Nvidia's expansion in China to enhance AI-driven car technology takes center stage, while Kroger announces a massive stock buyback after a halted merger. The discussion also touches on Exxon Mobil's ambitious low-carbon initiatives and insights into the economic impacts of political shifts. Plus, Red Bull claims victory in the competitive energy drink market, outpacing rivals like Celsius and Monster!
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Nasdaq's Milestone
- The Nasdaq's rise above 20,000 points signals investor confidence.
- Tech giants like Alphabet, Amazon, and Meta, fueled by AI advancements, drove the surge.
NVIDIA's China Expansion
- NVIDIA is expanding its presence in China, focusing on self-driving car technology research.
- They've increased their workforce by approximately 1,000 employees, including 200 in Beijing.
Kroger's Stock Buyback
- Following the terminated Albertsons merger, Kroger launched a $7.5 billion stock buyback.
- This replaces their previous $1 billion authorization and includes a $5 billion accelerated repurchase.