Nvidia Market Reaction Shows US Rally Is Over, Morgan Stanley’s Wilson Says

The bearish strategist — who recently conceded that he was too pessimistic in his outlook for 2023 — said the broader market reaction to the US chipmaker’s blowout forecast was a perfect indicator of a market peak. The S&P 500 had started the session higher, but sank 1.4% — its biggest decline in three weeks — by the close as higher bond yields overshadowed the buzz around artificial intelligence.

“Markets top on good news and they bottom on bad news,” Wilson said in an interview on Bloomberg Radio. “I can’t think of any better news than what we got from that company,” he said, referring to Nvidia. The failed boost “is another negative technical signal that the rally is exhausted. And now we’re going to need a new story to get people excited and I don’t know what that story is.”

US stocks are set for their first monthly decline since February as investors worry that central banks will remain hawkish for longer amid signs of resilience in the economy. The focus now is on Federal Reserve Chair Jerome Powell’s address at the Jackson Hole economic symposium later on Friday for clues around the path of interest rates.

Wilson said he expects Powell to reiterate that rates are likely to remain higher for longer until inflation is under control. “That’s not a bad thing for the market but also not a good thing,” the strategist said. “I wouldn’t look to today’s comments to save the day.” Bank of America Corp. strategist Michael Hartnett shares Wilson’s view that the boost from artificial intelligence will fade in the second half of 2023 as the effects of higher-for-longer interest rates and waning central bank liquidity become more pronounced.

ایران آخرین اخبار, ایران سرفصلها

Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.

Stocks open higher ahead of Nvidia earnings: Stock market news todayStocks opened higher on Wednesday morning with investors bracing for results from Nvidia after the bell.
منبع: YahooFinanceCA - 🏆 47. / 63 ادامه مطلب »

Tech stocks rally, yields drop, ahead of Nvidia earnings: Stock market news todayStocks were higher on Wednesday afternoon with investors bracing for results from Nvidia after the bell.
منبع: YahooFinanceCA - 🏆 47. / 63 ادامه مطلب »

Nasdaq rises as Nvidia sparks tech rally: Stock market news todayThe Nasdaq popped after Nvidia's earnings smashed Wall Street's expectations.
منبع: YahooFinanceCA - 🏆 47. / 63 ادامه مطلب »

Stock market today: Tech stocks rally after blowout Nvidia profit, while rest of Wall Street driftsTechnology stocks are jumping in early trading following a blowout profit report from Nvidia, but moves for the rest of Wall Street are more muted. The S&P 500 was 0.3% higher early Thursday, continuing a strong week that has trimmed its loss for August so far.
منبع: CTVNews - 🏆 1. / 99 ادامه مطلب »

Stock market today: Tech stocks rally after blowout Nvidia profit, while rest of Wall Street driftsNEW YORK (AP) — Technology stocks are jumping in early trading following a blowout profit report from Nvidia, but moves for the rest of Wall Street are more muted. The S&P 500 was 0.
منبع: SooToday - 🏆 8. / 85 ادامه مطلب »

Nvidia earnings: Company is 'defying all odds': AnalystNvidia reported another blockbuster earnings report. The company's second quarter results handily beat analyst estimates on both the top and bottom lines, while also providing third quarter revenue guidance that was above expectations. Synovus Trust Senior Portfolio Manager Daniel Morgan says the company is 'defying all odds' and is 'definitely the poster child for AI right now.' As for what Nvidia's results say for the chip sector as a whole, Morgan tells Yahoo Finance Live, that Nvidia will 'lift the whole group.'
منبع: YahooFinanceCA - 🏆 47. / 63 ادامه مطلب »