economy
Why memory chip stocks are getting hit hard for the second day in a row
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- Stock markets are falling due to uncertainty over the conflict in Iran.
- Energy stocks gained as WTI jumped 5% and traded above $95 per barrel.
- Memory and memory equipment stocks are declining for the second consecutive day after a Google researcher announced a new method to optimize memory in large language models.
- Morgan Stanley defended memory stocks, calling the selling a 'healthy pricing in of durability concerns' and the Google news an 'evolutionary development'.
- Key economic data to watch includes the final read on the University of Michigan consumer sentiment survey and 1-year inflation expectations.
- Cruise line operator Carnival reports earnings on Friday.