Market Review and Trends
Weekly Market Wrap | 27 May 2023
By Syfe  •  May 27, 2023
#AIEffect #SingaporeGrowth #USJoblessClaims Topic #1: The AI Effect on S&P500 S&P500 with and without AI Stocks (Till March 17) (Source: Societe Generale) While the S&P 500 appears to owe its gains this year to the success of Apple and other tech giants, a closer look reveals that without the emergence of artificial intelligence (AI), the index would be in negative territory. A handful of tech stocks with ambitious AI aspirations have played a significant role in driving the S&P 500’s 8% increase. Data reveals that non-AI stocks in the S&P 500 were down approximately 1% from the beginning of the year until mid-May. Key AI-focused stocks driving the S&P 500’s growth include Nvidia, whose shares have more than doubled this year. Nvidia’s plans to incorporate AI technologies into chips have instilled market confidence in its ability to capture market share and increase prices. Meta Platforms and Alphabet, on the...
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Syfe is a digital investment platform that is building the next generation of financial solutions for individuals across Asia ...

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