Wall Street ends higher as traders return to AI stocks
By Noel Randewich and Johann M Cherian
Mon March 16, 2026
AI is once again today the darling of Wall Street with Meta planning to lay off 20% of its workers on the basis that AI will assist the remaining 80% to work more efficiently, thereby lending more credence in the future profitability of the technology. All three indexes zoomed straight up right out the gate a substantial 3-digits and stayed there all day. Major AI players saw a good boost. Investors also acted on news reports from Washington that Iranian, Indian, and Chinese tankers would soon be moving through the Strait of Hormuz, which dropped oil prices a bit but is also in direct contradiction to statements made by Iran last week.
At that time, they pledged that no oil would be allowed through the strait or, for that matter, to leave the entire Middle East. As today’s expert lent some perspective, “On balance, the path forward is filled with twists and turns, a lack of visibility when the conflict is likely to end.” The VIX has dropped 3.5 points to 23.7 continuing to move further away from the “panic” 30 mark. The really good news is that as far as equities have fallen in recent weeks, especially in tech, the U.S. markets are doing better than the global owing both to a rebound in tech and the fact that we’re still a net oil exporter. Volume came in well below the 19.9 average, closing today at 17.4 billion.
DJ: 46,558.47 -119.38 NAS: 22,105.36
-206.62 S&P: 6,632.19
-40.43 3/13
DJ: 46,946.41 +387.94 NAS: 22,374.18
+268.82 S&P: 6,699.38
+67.19 3/16
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