Wall
Street
had
itself
a
very
good
week.
The
Dow
Jones
Industrial
Average
popped
2%
for
its
biggest
weekly
gain
of
2024.
That
gain
drove
the
30-stock
benchmark
to
an
all-time
high,
putting
it
within
striking
distance
of
40,000.
The
S
&
P
500
and
Nasdaq
Composite
popped
2.3%
and
2.9%,
respectively,
to
record
levels.
These
latest
gains
came
after
the
Federal
Reserve
indicated
it
remained
on
track
to
cut
interest
rates
three
times
this
year.
Fed
Chair
Jerome
Powell
also
noted
that
a
strong
labor
market
wouldn’t
deter
the
central
bank
from
cutting
rates.
The
question
for
investors
now
is:
How
do
you
navigate
a
market
that’s
trading
at
record
levels,
with
the
bulk
of
the
gains
coming
from
artificial
intelligence
stocks?
.DJI
5D
mountain
Dow
this
week
Earlier
this
week,
CNBC
Pro
spoke
to
an
investor
who
caught
the
big
rallies
in
Nvidia
and
Microsoft.
Blair
Boyer,
co-head
of
large
cap
growth
equity
at
Jennison,
said
he
likes
Advanced
Micro
Devices,
Meta
Platforms
and
Visa
going
forward
—
among
others
.
Boyer
broke
down
his
investment
approach,
which
consists
of
finding
companies
that
are
able
to
find
—
and
fund
—
new
ways
to
grow.
“The
self-reinforcing
nature
of
these
characteristics
is
such
that
it
tends
to
mean
that
companies
have
the
ability
to
use
the
free
cash
flow
that
they
generate
to
reinvest
in
their
business,”
Boyer
said.
Analysts
also
reiterated
their
bullish
views
on
Nvidia
this
week,
with
Goldman
Sachs
raising
its
price
target
on
the
high-flying
AI
play
to
$1,000.
The
company
unveiled
its
Blackwell
graphics
processing
units
on
Monday.
JPMorgan
noted
the
announcement
solidifies
Nvidia’s
position
in
the
AI
space.
“With
leading
silicon
(GPU/DPU/CPU),
hardware/software
platforms,
and
a
strong
ecosystem,
NVIDIA
is
well
positioned
to
continue
to
benefit
from
major
secular
trends
in
AI,
high-performance
computing,
gaming,
and
autonomous
vehicles,
in
our
view,”
JPMorgan
wrote
.
NVDA
5D
mountain
NVDA
5-day
chart
Nvidia
shares
rose
about
7%
this
week.
Small
caps?
Another
area
that
could
be
of
interest
to
investors
is
small
caps.
Fundstrat’s
Tom
Lee
told
CNBC
he
expects
the
Russell
2000
to
rally
50%
.
“With
the
Fed
doing
a
dovish
pause,
and
CEOs
getting
more
confident
—
that
means
M
&
A
and
IPOs
—
and
people
looking
at
other
sectors,
I
do
think
the
Russell
can
rise
50%
this
year,”
Lee
said.
“I
think
the
Russell
2000
represents
sort
of
the
best
of
things
to
happen
when
the
Fed
starts
cutting.”
The
small-cap
Russell
2000
rose
1.6%
this
week.
The
iShares
Russell
2000
ETF
tracks
that
index.
General
Electric
could
also
present
an
interesting
opportunity
for
investors.
The
industrial
giant’s
power
business
will
be
spun
off
from
its
aerospace
operations
in
the
coming
weeks.
It
will
trade
as
GE
Vernova
on
the
New
York
Stock
Exchange.
GE
has
ripped
higher
in
the
lead-up
to
the
spinoff,
surging
38%
this
year.
