El Nasdaq 100 marca un nuevo máximo por el regreso del 'FOMO en la IA'

The Nasdaq 100 has reached a new all-time high due to the return of FOMO (fear of missing out) in the artificial intelligence sector. The tech-heavy index surged on Tuesday as falling oil prices and optimism over AI advancements drove a rally in tech stocks. With a strong weighting towards major AI and hyper-scalers, the index closed up 0.8%, marking a new peak.

It also hit a new intraday high, surpassing its previous record set in early June. The S&P 500 index, on the other hand, closed with a slight decline. Investors attributed the success of Meta's new AI model, Meta AI, which quickly became the most downloaded free app on Apple's App Store this month, to boost overall market sentiment this week.

Meta shares rose 11.4% on Monday, but fell 0.6% on Tuesday. Michael Zigmont, co-head of trading at Visdom Investment Group, believes this move signals the beginning of a broader uptrend in tech stocks, describing Monday's Wall Street session as a return to the market en masse. Tech stocks have been fluctuating since early June, when a sharp pullback following large bets on the sector caused some of the year's biggest winners, including South Korean chip and memory giants, to plunge.

Since then, the sector has struggled to recover as rising oil prices and a drop in bond markets have increased investors' concerns. Oil prices have fallen and bonds have risen in recent days amid hopes of progress in the Iran war. Brent crude fell 2.9% in early Tuesday trading after Saudi Arabia announced the reopening of a key export pipeline.

The return of FOMO in AI has been strong, according to Emmanuel Cau, senior European fixed income strategist at Barclays. He attributes the rally to several factors, including falling oil prices and reports of U.S.-China talks on AI. Cau notes that the move reflects a much clearer positioning in the tech sector after the deleveraging seen in June.

Semiconductors were among the top gainers on Tuesday as investors bet that the success of models like Meta AI would boost demand for chips. Sandisk rose 6.8%, Seagate Technology gained 4.8%, and Western Digital increased 3.7%. Treasury bond yields fell across all maturities, with the 10-year debt declining 0.01 percentage points to 4.95%, amid a steep decline in bond prices over the past months due to higher premiums demanded for exposure to risks such as inflationary pressures from the U.S. war in Iran, concerns about the U.S. deficit, and a faltering economy.

Higher Treasury bond yields, which raise the borrowing costs for companies, have impacted the stock prices of tech firms heavily reliant on borrowing.