The stock market got smashed to open September after the long Labor Day weekend. The S&P was -2.12% and the NASDAQ -3.26%. Nvidia (NVDA) led the way, dropping almost 10% as news that the DOJ is investigating it for antitrust…
Nvidia (NVDA) reported a terrific quarter after the close Wednesday – but its stock is currently -7% in the after hours. What does it mean? Let’s start with the numbers. Revenue of $30 billion beat guidance and estimates as did…
After a furious bounce back rally the previous thirteen sessions, the market opened higher on Thursday but reversed hard to the downside creating “bearish engulfing candles” all over. This is bearish in the short term and it’s no surprise that…
The July CPI Report out early Wednesday morning was inline with expectations – Headline CPI +0.2%, Core CPI +0.2% – and hasn’t much changed the calculus for whether the Fed will cut 25 or 50 basis points on September 18….
A lower than expected PPI reading Tuesday morning slightly increased the probability of a 50 point rate cut by the Fed on September 18 resulting a big stock market rally (S&P +1.68%, NASDAQ +2.43%). On the other hand, Home Depot…
Exactly one week ago the market was setting up for a scary open on Monday August 5. Buffett had sold half his Apple (AAPL) position and the BOJ had hiked interest rates to 0.25% threatening the yen carry trade. The…
McDonald’s (MCD) reported earnings early Monday morning and the results suggest the economy is rolling over into recession. Comps have been decelerating for a year now and went negative in 2Q24. US Comps were -0.7% compared to +10.3% a year…
The June CPI came in soft Thursday morning raising expectations of a Fed rate cut in September to about 85%. In an interesting reaction to the report, investors are selling the leading stocks in the Nasdaq-100 (QQQ) and rotating into…
In his article in Saturday’s WSJ (“Nvidia’s Sucess Is The Stock Market’s Problem, Broadly” [SUBSCRIPTION REQUIRED]), James Mackintosh outlined the two things driving stocks: demand for AI chips and concern about the economy and interest rates. The former is pushing…
Gamestop (GME) is taking advantage of the surge in its share price caused by the return of The Roaring Kitty to sell up to an additional 75 million shares. To put that in context, GME currently has about 306 million…