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Data Void Leaves Markets To Nvidia, FOMC Minutes, Geopolitics
Going strictly by the data calendar, it'll be a quiet week for the world's largest economy.
Other than Nvidia's earnings release on Wednesday and the January FOMC minutes, there's virtually nothing notable scheduled.
Of course, that doesn't mean nothing will happen. Sometimes the quiet weeks turn out to be the loudest. And this week could be pretty loud in Gaza, where the Israeli military's likely to begin an offensive in Rafah. Geopolitical observers will also eye Russia, where the Kremlin wo
I wonder if three rate cuts alone are all that supportive of the economy or market. We need to hope that the oasis of endless rate cuts shimmering in the distance is not a mirage.
Or simply believe that the stock market and even most of the economy is impervious to rising interest rates.
The market action has been screaming “Stop thinking and follow the trend. Stand aside or get trampled if you cling to the quaint notion that “fundamentals” matter.”
Will that change? Nvidia probably has one last good earnings report to announce. It had better.
“It had better”….I hope you are correct- I did not trim 🙂
It probably all hinges on the forecasts. Options positioning is mighty bullish.
https://www.marketwatch.com/story/nvidias-earnings-report-could-kill-the-momentum-driving-u-s-stocks-higher-regardless-of-how-it-turns-out-66c17b16?mod=home-page
looking for McElligott updates on skew, volatility selling