This Week in the Stock Market | March 8th Recap

The US stock market was rocked this last week, thanks in part to tariff pressure, economic uncertainties, poor earnings, and weak outlooks.

Good news first — Broadcom stock owners had to have been happy with this week’s earnings report, boosting the stock by 10% as a result of much needed positive news. Broadcom beat first-quarter expectations, putting up $14.92 billion (+25% YOY) in quarterly revenue, with a $1.14 profit per share, up from just $0.28 last year. Even better news, the company’s AI segment recorded a 77% growth year-over-year, boosting hopes for a continued AI trade, temporarily scarred by Marvell’s failure of an earnings report.

As for the bad news, the NASDAQ 100 is down 10% and more than 3% from its high last month, and this week, respectively, alongside the S&P 500. The latter experienced its worst weekly decline since last September, alongside bumping into its 200-day moving average, a technical sign that could suggest further plummets if these drops continue.

Semiconductor stocks continue to plummet, NVIDIA taking a 10% drop this week, with over $1 trillion in market cap evaporated since January. Marvell Technology obviously had a terrible earnings report and subsequent quarterly projection.

Tariffs are fun, with more uncertainty causing further chaos within the market. President Trump delayed the enactment of tariffs, a recommendation given by virtual every major economist, before enacting aggressive options against our North American neighbors (and China), before then delaying them? Before enacting them again? Before giving automakers a break? It’s a mess.

The 10-year US Treasury yield surged 20 points since Tuesday, up 11 points this week, thanks in part to US Services PMI rebounds, a drop in jobless claims, and a not terrible jobs report.

Overall though, it’s a mess.

This Week in the Stock Market | March 8th Recap

The US stock market was rocked this last week, thanks in part to tariff pressure, economic uncertainties, poor earnings, and weak outlooks.

Good news first — Broadcom stock owners had to have been happy with this week’s earnings report, boosting the stock by 10% as a result of much needed positive news. Broadcom beat first-quarter expectations, putting up $14.92 billion (+25% YOY) in quarterly revenue, with a $1.14 profit per share, up from just $0.28 last year. Even better news, the company’s AI segment recorded a 77% growth year-over-year, boosting hopes for a continued AI trade, temporarily scarred by Marvell’s failure of an earnings report.

As for the bad news, the NASDAQ 100 is down 10% and more than 3% from its high last month, and this week, respectively, alongside the S&P 500. The latter experienced its worst weekly decline since last September, alongside bumping into its 200-day moving average, a technical sign that could suggest further plummets if these drops continue.

Semiconductor stocks continue to plummet, NVIDIA taking a 10% drop this week, with over $1 trillion in market cap evaporated since January. Marvell Technology obviously had a terrible earnings report and subsequent quarterly projection.

Tariffs are fun, with more uncertainty causing further chaos within the market. President Trump delayed the enactment of tariffs, a recommendation given by virtual every major economist, before enacting aggressive options against our North American neighbors (and China), before then delaying them? Before enacting them again? Before giving automakers a break? It’s a mess.

The 10-year US Treasury yield surged 20 points since Tuesday, up 11 points this week, thanks in part to US Services PMI rebounds, a drop in jobless claims, and a not terrible jobs report.

Overall though, it’s a mess.