"At the moment, there's an 89.6% chance we'll see a rate cut tomorrow. However, it's not just a rate cut we want to see. Markets are also waiting on forecasts for GDP growth, inflation, and unemployment. We're also waiting on any talk of stagflation, which would be bad news for markets. In fact, it could put any further chance of rate cuts in jeopardy."
"Nvidia ( NASDAQ: NVDA) is up on news that the tech giant could ship its H200 chips to China. All under the condition that a quarter of sales be paid to the U.S. government. As a result, analysts at Bernstein just initiated an outperform rating on NVDA, noting that if reports are accurate, that NVDA can ship chips to some customers in China's a positive development."
Markets are mostly flat ahead of the Federal Reserve decision: S&P 500 futures are up slightly, SPY is down fractionally, the Dow is up modestly and the Nasdaq is lower. There is an 89.6% chance of a rate cut tomorrow, but attention centers on Fed projections for GDP, inflation, and unemployment and on any stagflation talk that could jeopardize further cuts. Nvidia rose on reports it could ship H200 chips to China if a quarter of sales are paid to the U.S. government, prompting an outperform rating. Micron slipped while Deutsche Bank reiterated a buy with a $280 target citing HBM-driven structural shifts. Netflix shares are being viewed positively by analysts.
Read at 24/7 Wall St.
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