00:00Wall Street closed higher on Monday with the S&P 500 and Nasdaq rebounding from consecutive weekly losses as investors'
00:06sentiment improved following Entropics IPO filing.
00:10The artificial intelligence AI company drew attention with strong revenue growth reinforcing optimism around the sector.
00:17Despite concerns over rising development costs, Entropics filing revealed rapid business expansion alongside significant losses highlighting the enormous investment required
00:28to develop advanced AI systems.
00:30The IPO is viewed as an important test of investor appetite for AI-related companies as markets increasingly scrutinize whether
00:39massive AI spending can generate sustainable returns.
00:47Now it's an AI company which has been tough to come by in the last couple of weeks and it
00:53helps that interest rates are coming down a little bit.
00:55So we're seeing some of the things we've seen in recent weeks which is stocks are kind of following the
01:01opposite of rates.
01:02So if rates are down stocks can be up rates are up stocks are usually going to be down the
01:07good news is rates down stocks are moving up also it helps that oil is a little weaker that's helping
01:12lift prices too.
01:13And it looks like investors are looking to scoop up some of these AI-related companies and hyperscalers ahead of
01:19a big week of earnings.
01:21Investors are also preparing for a packed week of market moving events including the Federal Reserve's policy decision, key US
01:30economic data on growth and inflation and a wave of corporate earnings releases.
01:35Results from technology giants such as Alphabet, Microsoft and Amazon are expected to provide further insight into the returns from
01:43AI investments.
01:44By the close the S&P 500 rose 0.7% to 7,677.03 while the Nasdaq composite gained
01:540.83% to 26,169.38.
01:59The Dow Jones Industrial Average also advanced 0.28% to 52,361.76 extending gains across the major US
02:09equity indexes.
02:10The Dow Jones
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