Monthly Archives: May 2024

Nvidia Failed to Lift All Stocks

The much anticipated Nvidia earnings report came last Wednesday after market close and fabulously beat and exceeded all expectations.  Nvidia stock gained 9.3% next day.  However, despite Nvidia’s super positive information about the durable AI trend, the stock market took a beating.  The DOW had the biggest percentage decline since the October 2023

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The Entire Market is Waiting for Nvidia

The stock market rallied last week on the back of the Fed’s promise not to hike rates, just have to wait for rate cuts, but rate cuts are coming.  This rally from the April 19 low took out the previous high and appears to be on schedule for a breakout.  We blogged several times before that this rally from the April 19 low to be a breakout rally

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Consumer Sentiment Tumbles as Inflation Fears Surge

Consumer sentiment has turned down in early May to a six-month low.  It was 67.4 vs. 77 expected.  Inflation expectations has surged to 3.5% vs. 3.2% expected.  These two data points are survey data measuring consumer psychology.  The consumers are being squeezed by high prices and not feeling so comfortable.  The employment picture is still good

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Not Out of the Woods Yet

The Q1 earnings are not bad and the consumers are still spending.  The Fed was not too hawkish in the May meeting.  The Fed kept the interest rates unchanged, but will slow down quantitative tightening.  The market reacted negatively to the dovish Fed last week, only reacted positively to a less than expected nonfarm payroll growth numbers last

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