Biden's Boom: Wall Street Rallies Despite Retail Sales Drop

Markets rally

Well folks we saw some impressive resilience in the markets yesterday. Despite the drop in retail sales Wall Street ended higher with the S&P 500 even setting a new record high. I guess the saying holds true: 'Buy the dip!' Our friends over at the Dow Jones Industrial Average also joined the party with a late day rally adding over 300 points. And let's not forget about the Nasdaq Composite which gained 0.3%. It seems like investors are dancing to the beat of Nvidia's success.

Riding on Nvidia's success

Speaking of Nvidia they've been making some interesting moves. In a recent filing it was revealed that Nvidia took stakes in several AI companies. And guess what? Those stocks soared on Thursday. It looks like everyone wants a piece of Nvidia's AI growth story. I don't blame them I'm a big fan of AI myself. Did I ever tell you about the time I beat an AI at Scrabble? Well that's a story for another day.

Forget Tesla look at Ford

Ah Jim Farley the CEO of Ford. He's got quite the sense of humor. He told investors to forget about Tesla and focus on Ford's 'Pro' fleet business. According to him Ford Pro has half a million subscribers with a 50% gross margin. That's pretty impressive I must say. So if you're looking for the future of the automotive industry take a look at Ford Pro. I hear they even have an option to add a 'Corn Pop' decal to your car.

Putin prefers Biden

Well well well it looks like my buddy Putin has something nice to say about me. In an interview he said that I would be a better president for Russian relations than Donald Trump. I guess he thinks I'm more experienced and predictable. Can't argue with that. But hey at the end of the day we'll work with any U.S. leader elected by the people of America. It's all about building those relationships folks.

Asia's AI standouts

Morgan Stanley has picked out some 'underappreciated beneficiaries' in the AI boom happening in Asia Pacific. It seems like the biggest share of AI beneficiaries can be found in the IT and communications sector. Looks like our friends in Asia are really taking advantage of this AI revolution. Maybe we can learn a thing or two from them. I'll have to ask my VP about it. You know Kamala has a knack for picking up new trends.

The bottom line

Alright folks let's get down to business. It seems like Americans tightened their spending at the start of this year after all that holiday splurging. Retail sales took a big hit declining 0.8% in January. But hey we had a strong round of spending in December so it's not all doom and gloom. Consumer spending has been holding up remarkably despite higher borrowing costs and inflation. I guess the American people are really good at finding deals. It's like they have a sixth sense for discounts.