Power stocks up, SaaS challenges and awaiting AI updates at Apple's big event

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market reverse: The markets initially opened lower Monday as volatility in the European markets spilled over into the United States. But both the S & P 500 and the Nasdaq climbed out of the red and turned slightly higher while Nvidia flipped positive, overcoming some early selling tied to its 10-for-1 stock split.

We're still waiting on the intelligence section of the presentation when we expect to learn more about what's happening in AI. SaaS challenges: Jim is concerned about enterprise software after the Melius research piece on Monday about how enterprise software — specifically software-as-a-service subscriptions of all kinds, including Salesforce — could be threatened by Nvidia . "I didn't see a lot of software as a service execs at GTC ," Jim said.

Source: News Formal (newsformal.com)

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