Technology sector funds have experienced high levels of inflow this week, as noted by Bank of America Investment Strategy and EPFR. At the same time, crude oil prices are on the rise. Nvidia shares faced a sell-off on Thursday, causing a stall in their price on Friday. The future outlook for the chip giant is uncertain, with questions arising about whether its share price can recover.
Yahoo Finance’s Jared Blikre discussed the latest market trends on June 21st, highlighting the record tech close and the significant inflows seen in the sector. These flows have reached a peak not seen since 2016-2017, totaling $8.7 billion. The possibility of a market capitulation was also discussed, with attention drawn to the seasonal trends that could favor a bullish market in the first ten days of July.
Meanwhile, crude oil prices have hovered above $80 a barrel, prompting speculation about potential catalysts for further price increases. Early hurricane seasons, OPEC Plus decisions, and political factors like Biden’s actions in an election year are all seen as possible triggers for oil price movements. The low positioning in the oil market suggests there may be room for further price appreciation.
XL E, another focus of the discussion, has reached multi-decade highs, indicating a potentially bullish trend. However, questions remain about what might happen if the price continues to rise. The implications for shareholders, particularly in terms of dividends and buybacks, were also explored as part of the market analysis.
Lastly, the show delved into Nvidia, a company that always seems to make an appearance due to its impact on the market. A recent large red candle in Nvidia’s stock price has raised concerns, reminiscent of a similar pattern seen in March before a period of consolidation. The possibility of a buying opportunity for Nvidia in the coming weeks was suggested, especially given the upcoming options expiry that may lead to increased volatility in the stock.
Overall, the market analysis provided by Yahoo Finance’s Jared Blikre covered a range of topics, from technology sector flows to oil price movements and Nvidia’s stock performance. The insights shared shed light on the current market conditions and the potential opportunities and risks that investors may face in the near future.
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https://finance.yahoo.com/video/tech-records-oil-nvidias-future-211744202.html
