Good MorningEquity markets opened with a gain on Thursday but quickly reversed course, shedding nearly 1.0% for the day. The move shows that resistance to higher prices remains at the all-time high and may cap gains over the next month or two. The FOMC minutes aligned with the idea of rate cuts in September, while data suggests the economic outlook is still strong, bringing sector rotation back to the forefront. In this scenario, investors should expect to see market leaders such as NVIDIA underperform over the coming weeks despite results as investors shed profitable trades to raise capital.
The VIX is another sign that investors should pay attention to. The fear index has begun rising again and is setting up for another spike. That could come at any time, given the proper catalyst, and there are catalysts on the horizon. The two primary are an earnings report from NVIDIA next week and the PCE report due next Friday. The risk for markets is that CPI data could spark a sell-off regardless of inflation; a hot report will keep rates higher, a cool report will raise fear of recession, and as-expected will keep sector rotation in play. Investors should expect volatility; the only question is how much. Featured: Unveiled: NVIDIA's "Secret Royalty" Program (Behind the Markets) 
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Stocks | | | U.S. stocks rallied closer to their records after the head of the Federal Reserve finally said out loud what Wall Street has been expecting for a while: Cuts to interest rates are coming soon to help the economy Read the Full Story >> |
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Markets | | | With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday.Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to... Read the Full Story >> |
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Markets | | | West Virginia Gov. Jim Justice's family is millions of dollars behind on payments to employees' health insurance fund at their financially beleaguered hotel, putting workers' coverage at risk despite the U.S. Senate candidate's claims otherwise, a union official said Friday. "The delinquencies are f... Read the Full Story >> |
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Markets | | | Federal Reserve Chair Jerome Powell all but proclaimed mission accomplished in the fight against inflation and signaled that interest rate cuts are coming in a much-anticipated speech in Jackson Hole, Wyoming Read the Full Story >> |
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Markets | | | Argentina's Senate has defied the government to approve an increase to pension spending that would cost at least an estimated 0.4% of the gross domestic product, dealing a blow to President Javier Milei's tough austerity program Read the Full Story >> |
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