Goldman Sachs’ mid-day wrap is providing a positive outlook for the market today, with momentum on track for its second best day this month. The GSPRHIMO index has risen by 392 basis points, with both the long and short legs working in favor. This is fueled by a few bullish headlines in the semiconductor space over the past 48 hours, including Micron’s additional $24 billion investment in fabs in Singapore, the Samsung/Nvidia deal, and SK Hynix/Microsoft partnership.

In addition to the overall market momentum, certain pockets of the market are also outperforming today. Non-profitable tech stock GSXUNPTC has risen by 245 basis points, while most short rolling GSCBMSAL has gained 160 basis points. It’s worth noting that our overall PB book (systematic and fundamental combined) currently shows gross exposure at 302% (at the 100th percentile on a 1, 3, and 5-year lookback).

While the market is experiencing positive momentum, it’s important to remember that past performance is not indicative of future results. It’s crucial to stay informed and adapt to changing market conditions to ensure successful investment strategies. Whether you’re a seasoned investor or just starting out, staying up-to-date on market trends and analysis can help you make informed decisions for your portfolio.