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On one hand, the NASDAQ went up this week 4.7% on the other hand, software went down 7%. On the other hand, if we had three hands, the semiconductors went up 11.3% for the week. On the fourth hand, the S&P 500 is up 3.5% for the week. Yes, that's why you feel that the volatility in the market is driving you crazy.
Because when you look at the scorecard, the NASDAQ is up huge this week. Same for the Russell and the S&P 500. But as I mentioned, the software is down. So hello everyone and welcome back to the channel in our weekly summary we're going to cover summary of the of the market itself and we're going to talk about the weekly buzz.
What are people talking about and what can we learn from social media about the week that just passed and if you're new to the channel, my name is Micah and nothing here is financial advice, only my thoughts and opinions. What are the five things that are the several things that I'm looking for next week?
During the weekend, peace talks are are going to be held between the US and Iran in Pakistan. The results of them, of course, are going to impact the market whether it's oil going up or oil going down depending on the results. But no doubt this is something very dramatic for the market. The second thing, which is dramatic as well, we have earnings starting.
Goldman Sachs, JP Morgan, BlackRock, Wells Fargo, ASML, Morgan Stanley, Bank of America. Basically, we're getting the big banks and we're getting ASML and Netflix. Very important for the market to kind of get a pulse on where things are, especially in the financials, but also in other areas of the market.
The third thing, who will Anthropic kill this week? Because Mythos, which was not released last week, is creating a lot of turmoil because basically with it you can find or exploit a lot of vulnerabilities in software, which means that cyber securities will need to work extra hard on that. And the last but not least, what is going to happen this week with IGV with the tech sector, actually the software subsector of the of the tech?
Because if the Susquehannock continues and we're down more than 7% or we're going to be down seven another seven another seven, that's going to create a lot of capitulation, which means a lot of forced selling with investors. So let's dive in and summarize the week and we will start before the buzz.
Let's summarize the numbers. Here they are. NASDAQ up as we see as we saw. Tech up 4.8 while energy was down 3.9 for the week. You can see here the differences, we talked about them earlier. But this is a divergence that's very interesting. You can see the XLE, the energy, as you can see, down 3.9 percent for the for the week while consumer discretionary up 4.3 for the week.
Tech sector. Anthropic almost everything that they released, there's another subsector that is being hammered. Now the market might be pricing correctly some, most, all, really depend on what you think about that. I believe that some companies will not survive the AI revolution, but most of them will come up come out stronger and bigger.
The big question is, will you invest in the right ones? And it's currently very difficult to identify which ones are which. But we do know is is the market is putting semiconductors, the SMH, in front line plus 11% for the week. You can see the Magnificent Seven, Broadcom up 18% for the week. Amazon, Meta, Alphabet and Nvidia on the other side, Apple sluggish 1.7% Microsoft, Tesla and Oracle down for the week.
Silver, gold up for the week. Natural gas down for the week. Crypto giving some kind of relief with Bitcoin up 4.3% and Ethereum up 4.7. That brings us, of course, to what we talked about. The market currently is prioritizing chips over software. That's the best way to summarize it. Now if you want to dive in deeper into what people are talking about, let's talk about the weekly buzz.
And the weekly buzz is my way to kind of feel the pulse of the market. The way I do that is I run several queries in different AI tools, all that in order to better understand what are people talking about. So let's dive in and see what are what people talked about on social media. Palantir, huge spike of discussions around Wall Street bets, around Twitter or X and others.
Why? We'll see in a second. I'll give you a hint, Michael Burry. Tesla, discussions FSD being approved in the Netherlands and also what's their AI play. They came together with Intel. We'll we'll see that also taking a spike. Microsoft up because of its huge pullback, over 30% down from its all-time high.
Nvidia, always discussions about the biggest company in the world. And Intel, great week because they're combining with Tesla around the Terafab. Discussions around Michael Berry, we're going to talk about that. Space, discussions about Rocket Lab, RDW and Lunar. Why? Artemis, SpaceX IPO, you choose.
And we talked about speculative AI. How did we get back here? Here we go. Okay. The value chain architect architecture, everyone is talking about several companies so let's dive in. Snowflake and ServiceNow getting hammered because of Anthropic. OpenAI and Anthropic, of course, are competing with Claude Claude.
Every week Anthropic every week decides to launch a new product, a new submodel, everything. And of course, this creates that tension in the market. In the cloud perspective, we have Amazon and the GAC released a letter this week that says that they're going to invest $200 billion in infrastructure.
The reason for that is he believes that the road is not paved straight, but it's going to be curved and through those curves Amazon is going to be a lot bigger. Right now they need to invest heavily in order to come out as winners. Will the market believe that? Yes, it went up during the week. We have Meta that released a new AI model, at least from their findings or at least from the test that they were given, it's a very good model.
And Nvidia, as always, talked about chips and potential. Let's dive in directly to Michael Berry and Palantir, which of course is very is a very hot topic to everyone. The catalyst is simple. Michael Berry posts that he thinks that Anthropic is eating Palantir's lunch. But he's not just saying that, he's shorting Palantir.
Now he has a Substack. Now he can reach a lot of retail investors and others. Now his voice and and his opinions are a lot more vocal and guess what it does to Palantir stock. Down 16% for the week. Now the sentiment, there's a fight. Retail investors love Palantir. Institutions look at their multiple and say, "It's too stretched for us, especially with Anthropic." That creates that bull and bear disconnect for the week.
Capitulation? Probably in Palantir we saw capitulation. On the other side, people are talking about Google. The reason for that is from the metrics metrics perspective, it's oversold. Might be even in a head and shoulders pattern. RSI 28 oversold. The blind spot? It's Google. They're amazing. They're big.
They have AI. They have and every time they release something new, the market gives them that benefit of the doubt. Will you invest in Palantir this week? Write me in the comments below if you're going to invest in Palantir this week. What are you going to what you should look out for next week? What is picking up the buzz?
Rocket Lab, RDW, Lunar, Palantir, we talked about it. And meme names. Why? Because they're meme names. They usually take the social media sphere. Now, let's look at the S&P 500. So this is a chart of the S&P 500. I'm using TradingView and these are Japanese candlesticks just because it's easier for me to better understand what happened during the day.
What we do what we did see is from the bottom, the S&P 500 went up 8.3%. It didn't happen in one week, it happened in several weeks. But look down and you can see seven straight green days. Usually when you have this such a long stretch, which is historical, you do get some kind of pullback. Where would that pullback be or why I don't know or when it's going to happen, I don't know.
But assuming Friday was the peak and we're going to get some kind of pullback, 6581 might sound reasonable for that kind of pullback. That's a 50%, which is kind of normal because when you go up in a straight line, usually you correct some. But it doesn't mean that's going to happen. We can keep going straight up and we'll come back to this gap that's between the 67 and the 66.
All-time high is around 7,000. You remember we've been there on January 28th. And by the way, this week we celebrated the one year Take a look at this. The one year to the bottom of liberation day. This is liberation day. This is the bottom and we went up. So whether this week was the bottom or last week was the bottom, no one really knows.
What we do know is software needs to find its footing. Without software finding its footing, the market will still be very, very volatile. Of course, this can't happen with Anthropic keep killing every software company or in theory killing every software company. And of course, without peace or some kind of relief around the Hormuz Straits and others.
That was the weekly summary. Hope you enjoyed it. Smash the like button if you did. And of course, write me in the comments below if you like this format or you would like the format to be updated, upgraded, augmented, whatever you prefer. Till next time, Mike Dark saying bye-bye.
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