Nvidia Beats Big, and Powell Doesn’t Rock the Boat. Why That’s Ominous for Stocks.

Between Nvidia’s blowout earnings and an unsurprising Jackson Hole, the stock market should have gotten everything it needed to end talk of a correction. That fact that it didn’t suggests that there is probably more downside ahead.

“Fed Chair Powell delivered what we thought was a balanced assessment of the economic and monetary policy outlook at Jackson Hole,” writes Aditya Bhave, U.S. economist at BofA Securities. “As expected, he gave little forward guidance on policy, instead emphasizing data dependence.” Now, it’s all about where the S&P 500 can find support, a level where buyers step in to prop up the market. Right now, it looks to be at 4300, says Frank Cappelleri, founder of CappThesis. If that level breaks, the next stop could be near the index’s 200-day moving average around 4135, down 11% from the 2023 peak, and a fall large enough to meet the definition of a market correction.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

5 big earnings hits: Nvidia's bang-up Q2; retail's bottom-line beats By Investing.com5 big earnings hits: Nvidia's bang-up Q2; retail's bottom-line beats
Источник: Investingcom - 🏆 450. / 53 Прочитайте больше »

Stock Market News: Fed’s Powell speaks, Nvidia, Apple, Nordstrom’s shares activeFederal Reserve Chairman Jerome Powell delivers highly anticipated speech from Jackson Hole, Wyoming, Nvidia’s run cools, Apple gets upgrade, Dollar Tree takes on thieves and stocks on pace to end the week mixed. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Источник: FoxBusiness - 🏆 458. / 53 Прочитайте больше »

Nvidia shares set to open at record high after big earnings beatThe AI darling has seen demand for its powerful GPU chips surge over the last year and projects that demand will continue through next year.
Источник: nbcchicago - 🏆 545. / 51 Прочитайте больше »

Nvidia's blowout earnings report shows chipmaker is gobbling up all the profit in AINvidia's prodigious cashflow contrasts with its top customers, which are spending heavily on AI hardware and building multi-million dollar AI models.
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »