Nvidia blows minds at CES: Although I would have liked to have seen Nvidia (NVDA) CEO Jensen Huang don something different than his now trademark black leather motorcycle jacket, there is no denying that Fortune's "Businessperson of the Year" rocked the stage at the Consumer Electronics Show in the wee hours Monday. Huang took to the stage and unleashed a host of news that has the stock touching all-time highs in premarket trading. The chipmaker added Volkswagen and Uber to its growing list of car-making partnerships keen on using its artificial intelligence technology. The company had previous partnerships with Tesla (TSLA) and Baidu (BIDU) , as TheStreet's Martin Baccardax pointed out. The old stock analyst in me thinks there is more behind this latest push higher in Nvidia, though. I think the market may be betting that the acquisitive SoftBank buys Nvidia at some point. As TheStreet's Chris Nolter mentioned, the Softbank Vision Fund holds a stake of less than 5% in Nvidia. Couple that with SoftBank's new stake in Uber, and Nvidia's fresh deal with the ride-hailing giant, speculation is likely to rise on SoftBank one day making a play. All in all, home run evening for Nvidia, a long-time holding of TheStreet founder Jim Cramer's Action Alerts Plus investor members club. Shares have risen 100% in the past year. If you aren't a part of Cramer's club, in effect missing out on massive calls such as Nvidia, ask yourself what the heck is wrong with you? Join today by visiting HERE.
Investors love their ETFs: What risk? That basic question underscores the ETFs investors favored in the first week of trading for 2018. According to Jefferies, high-yield ETFs took in $1.4 billion last week, energy saw $485 million (thank you bomb cyclone) and discretionary notched $375 million. Underpinned by expectations for more rate hikes from the Federal Reserve (good for banks), ETFs levered to financials hauled in $423 million. The big loser: Staples saw an outflow worth over 6% of its asset base, said Jefferies.
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Let's not forget about cryptocurrencies: Things have been a touch quiet on the cryptocurrency front, at least from the vantage point of someone who doesn't mine bitcoin. But it is worthwhile to remember how huge the crypto space has become in such a short time. The combined market cap of all digital currencies and tokens has risen above $800 billion for the first time ever, according to crypto website TrustNodes. Since you are wondering, Apple's (AAPL) market is at $890 billion. The race is on to $1 trillion. Count me as one rooting for Apple: It's way easier to understand and makes products we can touch.
Bitcoin as a Market Risk
Could a plunge in bitcoin sink the stock market? One guest on TheStreet's above Trading Strategies panel says yes.
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