The stock market closed higher on Tuesday as investors shrugged off the threat of new tariffs from President-elect Donald Trump.
Overall, S&P 500 and NASDAQ rose 0.6% to 6,022 and 19,176, respectively.
Tweet of the Day
I just did a research report on S&P Global (SPGI). Business is GOOD as both the Ratings division (+36% revenue growth last qtr) and Indicies (+18%) are growing strong.
With the S&P 500 on a roll, and bond rates looking to decline next year, momentum is likely to carry into… pic.twitter.com/hlDngeCRVX
— David Sharek (@GrowthStockGuy) November 13, 2024
Chart of the Day
Here is the ten-year chart of Cadence Design Systems (CDNS) as of October 30, 2024, when the stock was at $290.
The company’s AI platform, Cadence.AI, saw sales nearly triple during the past year. Examples include partnering with NVIDIA (NVDA) to accelerate AI innovation, helping deliver ARM’s (ARM) next generation AI technologies, and expanding its partnership with Taiwan Semiconductors to create AI-optimized design flows. Generational trends such AI, autonomous driving, and 5G are accelerating demand for the systems of Cadence Design Systems.
CDNS is part of our Growth Portfolio. With a P/E of 42, the stock has limited upside, but David Sharek feels that it is a must-own for growth stock investors.
