Mega Bucks For Meta To Settle

We don’t want to say CNBC caused the top in Super Micro Computer Inc., but they definitely pushed sentiment over the edge. 🤪

Mania’s are hard to time, but most market participants agree that today was “a” top in the stock. What we all fail to agree on is whether it was “the” permanent top. Let’s see how it played out. 👇

Nvidia’s evil plan to take over the stock market was put on hold today despite labor market data helping build the case for a June rate cut. 🤔

The February jobs report showed that nonfarm payrolls rose by 275,000, topping the 198,000 expected. However, the previous two months’ numbers were revised lower by 167,000 jobs, causing the unemployment rate to jump to 3.90% and signaling a further softening of the labor market. 🔻

Despite a lackluster close for the major indices, several stocks hit major market-cap milestones. 🤩

First up is Microsoft, which briefly became the second company to cross the $3 trillion market value threshold. Although that didn’t hold into the close, what’s done is done, and the company certainly deserves to be celebrated. Meta’s rebound over the last two years pushed it back above the $1 trillion mark, bringing the total number of companies above this level to eight.