Yahoo Finance

Summary

Ed Yardeni, president of Yardeni Research, recently described the stock market as moving in 'Toy Story' fashion 'to infinity and beyond.' On Wednesday, the major indices rose another 1.5%-2.1% and printed their second straight upside price gap, this as the AI train continues to roar down the track. Once again, the scorching semiconductor stocks led, ripping 5% higher based on the SMH and SOXX ETFs, as well as the Dow Jones Semiconductor Index. Starting from the largest players, the almost $5 trillion market cap NVDA rose almost 6%, TSM was up 6.4%, AMD 19%, ASML 7%, LRCX 8%, ARM 14%, and ACLS 22%. Electrical component and electronic equipment stocks continued to soar, with GLW up 12%, JBL 10%, FLEX 38%, IPGP 12%, and VECO 25%. Industrials also did well on the back of the airlines, aerospace, commercial vehicles and trucks, and industrial machinery. Two other less-discussed areas of the market that also are benefiting from AI include rare earth and lithium stocks. The VanEck Rare Earth and Strategic Metals ETF (REMX) has soared 38% since March 20, while the Global X Lithium ETF (LIT) has spiked 37% since March 20. Energy (XLE) dropped 4% and exploration & production (XOP) fell 6% as WTI slipped 6%, dr