Why the S&P 500 Is Looking ‘Toppy’

The stock market has an Nvidia problem. Nvidia beat earnings forecasts, is seeing fast growth for its high-margin data-center chips, and even guided for $78 billion in first-quarter sales—$5 billion above expectations. “The [AI] trade has gotten stretched,” says Kenny Polcari, veteran trader and chief market strategist at SlateStone Wealth.
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