[Chart courtesy of MarketWatch.com] Today’s rally had a very familiar driver: Nvidia. The chip giant delivered another earnings beat, and investors responded by sending the Nasdaq higher while the rest of the market mostly stood around checking its watch. Nvidia surged 9% after topping expectations and projecting powerful revenue growth, with forecasts now pointing to roughly 70% growth by fiscal …
Inflation Stays Sticky, Markets Stay Sleepy: Can Nvidia Change The Mood?
[Chart courtesy of MarketWatch.com] The market spent most of today standing around the coffee machine waiting for something interesting to happen. July’s PCE inflation report came in a touch hotter than expected, reminding investors that inflation still hasn’t fully gotten the memo. Even so, the S&P 500 barely budged as traders chose to keep their powder dry. What mattered more …
Summer Doldrums Persist As Nvidia And Inflation Loom Large
[Chart courtesy of MarketWatch.com] The market finally found a little traction today, with the S&P 500 posting a modest gain and the Nasdaq leading the way thanks to another strong showing from semiconductor stocks. Falling Treasury yields helped the mood, as the 10-year yield declined for a second straight session, while oil prices dropped more than 3%, taking some inflation …
Chips Stumble, Gold, And Bitcoin Shine
[Chart courtesy of MarketWatch.com] Stocks took a step back today, with the S&P 500 and Nasdaq slipping as weakness in the semiconductor space overshadowed a welcome dip in Treasury yields. Micron got hit particularly hard, dragging AMD, Broadcom, and the broader chip sector lower along with it. On the bright side, bond yields eased as Treasury funding chatter and softer …
The Bulls Took A Breather, But Gold And Bitcoin Kept Running
[Chart courtesy of MarketWatch.com] Stocks spent most of the day on the defensive as bond yields resumed their climb and oil prices pushed higher. Yesterday’s Treasury buyback announcement briefly calmed the bond market, but that optimism faded quickly, with long-term yields giving back those gains and reminding investors that deficits and borrowing needs remain front and center. Adding to the …
The Treasury Blinked. Gold And Bitcoin Noticed Immediately
[Chart courtesy of MarketWatch.com] Today’s market move came down to one thing: the Treasury’s decision to significantly expand its buyback program for longer-term debt. That helped push long-term yields lower, and stocks responded with modest gains, led by small caps. The bigger story, though, was the message the market seemed to take from it. As the Treasury steps more aggressively …