Markets

AI Stocks Prevented S&P 500 Being in the Red: SocGen Analyst

Google LogoMark Us Preferred on Google
AI Stocks Prevented S&P 500 Being in the Red: SocGen Analyst
A visitor watches an AI (Artificial Intelligence) sign on an animated screen at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona. Josep Lago/AFP via Getty Images
Naveen Athrappully
|Updated:
The hype over artificial intelligence has resulted in a positive performance in the U.S. stock market this year, says a Societe Generale analyst.
“The AI boom and hype is strong,” London-based Manish Kabra, a strategist at the financial services company, said in a note on Friday, according to Bloomberg. “So strong that without the AI-popular stocks, S&P 500 would be down 2 percent this year.” The S&P 500 is up by 7.84 percent year-to-date as of May 12. Stocks of major tech firms involved in AI technologies have rallied this year.
Google LogoMark Us Preferred on Google
Naveen Athrappully
Naveen Athrappully
Reporter
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.
Related Topics