US market outlook: The Fed's outlook is “Goldilocks,” the market's buying signal lights up, and the Dow average starts at $148 higher

Top news
Expanding NVIDIA Economic Zone Developers Conference, 300 Companies Exhibit AI and Robotics
Major US semiconductor company $NVIDIA(NVDA.US)$At the developer conference “GTC2024,” which has been held since the 18th, about 300 companies from around the world are exhibiting the latest technology, and it is booming. Unique technologies for artificial intelligence (AI), robots, and virtual reality (VR) utilizing semiconductors and software provided by NVIDIA have spread, and they are building a major economic zone.

The world's central bank assets and mitigation money are still at their peak to 80%, and the Fed decelerates
The US Federal Reserve left policy interest rates unchanged for 5 consecutive meetings at the US FOMC held on the 20th. While the interest rate cut forecast, which had been set at 3 times by the end of the year, quantitative tightening (QT) is a policy to slow down soon in order to prevent market turmoil. Central bank assets in Japan, the US, and Europe are still high at 80% of their peak, and the pattern where “mitigation money” remaining in the market boosts stock prices continues. Since the total assets of central banks expand when government bonds etc. are purchased from financial institutions, it is a yardstick showing how much money is being supplied to the market.
RELATED ARTICLES
New York gold hits a new high, interest rate cuts are maintained “3 times within the year,” and there is a sense of security

The strong dollar reflects the strength of the United States, 7 spectacular companies, and overseas sales are 134 trillion yen
The depreciation of the yen and the appreciation of the dollar continued even after the Bank of Japan lifted negative interest rates. Expectations for artificial intelligence (AI) and semiconductors that have continued since the beginning of the year make the market aware of the rise in neutral interest rates (which neither cool nor heat the economy) via rising productivity in the United States. In addition to the view that high interest rates will continue in the US, it is easy for investment money to gather in dollars that reflect the strength of the US economy. There is a possibility that expectations for high technology, which will drive growth, will prolong the depreciation of the yen and the appreciation of the dollar.
RELATED ARTICLES
The FRB's outlook is “Goldilocks,” and the market lights up a buy signal

US stock rally to stall, even if FRB maintains interest rate cut policy - MLIV investigation
In the latest Bloomberg “Markets Live (MLIV) Pulse” survey conducted after the US FOMC meeting in March, the view was shown that despite the US financial authorities deciding to maintain interest rate cut guidance by the end of the year, the US stock exchange rate is expected to lose upward momentum, and the US bond rate has not bottomed out yet.

US government cuts EV promotion targets in half but relaxes emissions regulations due to the rise of China
The US government announced on the 20th that it will relax car emissions regulations. The target of turning less than 70% of new cars into electric vehicles (EVs) in 2032 was also lowered to just under 40% at the lowest case. The US automobile industry is struggling to expand EVs. It looks like the Biden administration, which is preparing for the presidential election, has responded to a review request from the industry that is the “voting field,” but caution against Chinese cars that could take the EV market by storm is also hidden.

US retail sales slow to 2.5-3.5% this year = National Retailers Association
The National Retail Federation (NRF) indicated on the 20th that this year's US retail sales will increase by 2.5-3.5%, and growth will slow down from the 3.6 percent increase last year. Deep-seated inflation seemed to be watering down expectations for a strong recovery in private consumption.

China opposes US encirclement with semiconductor fund concept worth over 4 trillion yen
The Chinese government is rushing to build its own semiconductor supply chain (supply network). We will expand our investments centered on manufacturing equipment in mature fields. The largest ever national policy fund plan of about 4 trillion to 6 trillion yen has surfaced, and it will continue 2-digit growth in domestic semiconductor production capacity.