They’re additionally looking ahead to Nvidia’s earnings report on Wednesday, which could bolster the megacap tech trade following its recent slide. The “Magnificent Seven” stocks rallied Friday, but only after five straight days of losses.
“In the immediate term, markets will probably get over the Cook news fairly quickly (assuming this is a discrete event and Trump doesn’t attempt to fire Powell), turning its attention back to Nvidia, the PCE, and jobs, but the Fed’s independence is undeniably being undermined, a process with negative long-term consequences,” said Adam Crisafulli, founder of Vital Knowledge.
Also weighing on sentiment, Trump said Monday that he plans to impose “substantial” new tariffs as well as export restrictions on chips for countries that do not remove digital taxes.
Some stocks on my watchlist like CRWV, NVDA, AMD, BGM, CRM, META may get impacted.
Investors already appeared hopeful about the prospect of lower interest rates coming in September, as hinted at by Powell last week.
byu/Zestyclose-Salad-290 instocks
Posted by Zestyclose-Salad-290
4 Comments
Literary can’t go tits up
Every NVDA earnings for the past two years, the market hyper fixates on “aRe ThE nUmBeRs GoInG tO bE gOoD???” for an entire fucking week beforehand. Every single time, THEY BEAT AND RAISE. They’ll give commentary about how amazing the sector is, like they always do. Incredibly stupid how tech is so dependent on a monopoly telling everyone how great business is for them—especially when 95%+ of companies have already reported Q2 earnings.
Everyone anticipates one way or the other, and 50% are wrong both ways.
Is this based on a poll, what ‘investors’? There was a pullback after Powells comments in fact there is doubt.