🦉 3 Reasons Nvidia is on The Verge of a 4 Digit Stock Price

It's been a solid year for shares of Nvidia Corporation (NASDAQ: NVDA). Having had a stellar 2023, they've already tacked on an impressive 100% value since January. Helped by a perfect combination of falling inflation, a market-wide risk-on sentiment and a booming AI industry, they've become one of the hottest stocks to talk about and own.  With a high in yesterday's session of just under $960, expectations are growing for the tech titan's stock to hit 4 digits soon. This can be a big milestone in a stock's journey, and those that make it there are few and far between. . ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  Unsubscribe Your Evening Recap for Sunday, May 19th Equity markets set a new all-time high last week on renewed hopes the FOMC would start cutting interest rates soon. The caveat is that while inflation is slowing, it is still hot and at record levels, squeezing the consumer between high prices and high interest rates. In this scenario, consumer spending isn't keeping up with the pace of inflation, and the economy is set up for contraction. This week brings renewed risk for the markets. The economic calendar is light, but at least a half dozen speaking engagements by Fed members may shed light on the outlook for rate cuts. Additionally, the minute meetings from the FOMC's May meeting will be released on Wednesday and may reveal a Fed hesitant to cut. The S&P 500 should be able to set more new highs so long as the FOMC remains on track to cut, regardless of the timeline. The risk is that higher-for-longer may mean higher for the foreseeable future, which is not what the market is pricing. Featured: Did a Miracle Just Happened in Fremont, California? (InvestorPlace) 3 Reasons Nvidia is on The Verge of a 4 Digit Stock Price It's been a solid year for shares of Nvidia Corporation (NASDAQ: NVDA). Having had a stellar 2023, they've already tacked on an impressive 100% value since January. Helped by a perfect combination of falling inflation, a market-wide risk-on sentiment and a booming AI industry, they've become one of the hottest stocks to talk about and own.  With a high in yesterday's session of just under $960, expectations are growing for the tech titan's stock to hit 4 digits soon. This can be a big milestone in a stock's journey, and those that make it there are few and far between. Read The Full Story > Profit while China whines? (Ad) If you haven't heard yet, the CHIPS Act is the US government pouring $280 BILLION into the manufacturing of US semiconductors. A lot of companies will make a fortune from this. Click here to see my #1 investment for 2024. Vindicated by Supreme Court, CFPB director says bureau will add staff, consider new rules on banks Since its creation roughly 14 years ago, the Consumer Financial Protection Bureau has faced lawsuits, political and legal challenges to the idea of whether the Federal Government's aggressive consumer financial watchdog agency should be allowed exist at all Read The Full Story > The Night Owl is an evening newsletter published by The Early Bird and powered by MarketBeat. The Night Owl covers top stories on the stock market and outlook on interesting stocks. If you give a hoot about the market, read your copy every Tuesday, Thursday, and Sunday evening.   MarketBeat Media, LLC 345 N Reid Place, Suite 620, Sioux Falls, SD 57103. contact@marketbeat.com   Unsubscribe View as a Web Page   Today's Bonus Content: Bitcoin's Record Break? (Click to Opt-in)