Overnight and the close: Nvidia fell 5.5% to $168.9, but Nasdaq futures are up 1.4% overnight.
→ Hot inflation (0.4% monthly vs. 0.3% expected) pushed the 10-year yield to 5.00%; S&P 500 down 0.4%
→ While Nvidia fell, Broadcom rose 3.9% and TSMC 2.0%
→ In Asia, KOSPI is up 2.6% and the Nikkei 1.3%; silver up 2.9%
I think the overnight rally isn't confidence in Nvidia; it's the index decoupling from Nvidia.
Worst case: if yields stay above 5% and Nvidia breaks its $165.9 low, the futures gain is wiped out by the evening; I'm watching that.
#Stocks #Economy
Watching: $NVDA $AVGO
→ Hot inflation (0.4% monthly vs. 0.3% expected) pushed the 10-year yield to 5.00%; S&P 500 down 0.4%
→ While Nvidia fell, Broadcom rose 3.9% and TSMC 2.0%
→ In Asia, KOSPI is up 2.6% and the Nikkei 1.3%; silver up 2.9%
I think the overnight rally isn't confidence in Nvidia; it's the index decoupling from Nvidia.
Worst case: if yields stay above 5% and Nvidia breaks its $165.9 low, the futures gain is wiped out by the evening; I'm watching that.
#Stocks #Economy
Watching: $NVDA $AVGO
