MARKET HIGHLIGHTS
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market highlights
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GOOD WEEK
Super Micro Computer, Inc. (SMCI +35.72%) provides data center solutions, designing high-performance servers and storage systems for enterprises. The stock surged on increased demand for AI servers and liquid cooling solutions in data centers.
Silk Road Medical, Inc. (SILK +12.43%) stock surged on a positive mention in Meridian Small Cap Growth Fund's Q3 2023 letter. Despite short-term challenges, the fund sees long-term growth potential in Silk Road Medical due to its innovative approach in treating carotid artery disease with the TCAR procedure.
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BAD WEEK
iRobot Corp. (IRBT – 26.99%) stocks dropped due to the EU antitrust watchdog’s ongoing concerns which is hindering Amazon's purchase of iRobot Corp. The European Commission fears Amazon's ownership may lead to anti-competitive practices, impacting market sentiments and future tech acquisitions.
Enviva Partners LP (EVA -22.65%) faces a stock drop with high implied volatility in options, indicating expected market movement. Enviva Partners LP manufactures and supplies utility-grade wood pellets, primarily to power generators.
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WHAT ELSE HAPPENED
U.S. indexes rise, S&P 500 hits record, driven by tech gains. Semiconductor stocks surge on Taiwan Semiconductor's strong results. The 10-year Treasury yield puts pressure on defensive sectors sensitive to interest rates.
The core CPI (Consumer Price Index), excluding food and energy, slowed although this aligns with predictions and is the lowest in two and a half years, core inflation remains above the Fed's target.
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