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If the upcoming initial public offering of artificial-intelligence chip maker Cerebras is any measure, the bull market in semiconductors is still on. When Cerebras filed its IPO paperwork earlier this month, the company intended to sell 28 million shares at a price between $115 and $125, raising $3.5 billion at the top end of the range. It was up 0.7% in premarket trading Monday.
The rolling 25-day performance for one index of semiconductor stocks has reached its highest level since March 9, 2000 —the day before the dot-com bubble peaked.
Risk assets and momentum plays were shining on Tuesday. Exchange-traded funds focused on momentum, growth, risk, and small-caps were among the top performing strategies, posting gains of 1.6% or more.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.02% and the actively tra