Nvidia’s earnings report crushed analysts’ forecasts and tamped down on the market’s fears of an AI bubble bursting.

Denis Taillefer says stretched valuations, soft housing data and Nvidia’s results shape the market outlook as TJX outperforms and Metro trades at a discount.

The Stock Act of 2012 prohibits members of Congress from trading on insider information. But its critics say the law is largely toothless. It requires members to disclose their and their families’ trades within 45 days, but lawmakers who have been investigated have largely been let off because its standards for insider trading are extremely high.

At least 25 bills have been introduced this Congress to further limit lawmakers and their family members from trading individual stocks.

The weakness continued a broader cooling in AI-linked stocks. Through Wednesday, the S&P 500 was down about 3% for the month, while the Nasdaq had fallen nearly 5%. Nvidia itself had declined 7% for November ahead of Thursday’s session.

The bipartisan push for a congressional stock trading ban is gaining steam, but lawmakers have yet to settle on the details of a proposal. The House Administration Committee on Wednesday held a hearing on the matter,

US stocks surged on Thursday as blockbuster Nvidia (NVDA) earnings helped rekindle faith in the AI trade, and rate-cut hopes brightened after the release of the long-awaited September jobs report. Nvidia stock surged nearly 5% in early trading after the chipmaker delivered an earnings beat and issued a stronger-than-expected revenue outlook for the fourth quarter.

U.S. stocks ended a choppy session higher on Wednesday, rebounding from recent losses as technology stocks rose ahead of Nvidia's quarterly results. Lisa Bernhard has more. Democrat wins in Virginia and New Jersey 'sent a message' across the U.