How does Wall Street view Powell's turn? Is it time to discuss a 50 basis point rate cut in September?
Wall Street generally believes that Powell's speech has opened the door for a rate cut in September. The key to the size of the rate cut will be the August non-farm payrolls. If the labor market continues to weaken, the Fed may cut rates by 50 basis points or even 75 basis points.
After Powell's 'explosive' speech, the market entered 'nvidia time'.
Next week, NVIDIA, the giant of AI chips, will release its financial report for the second quarter. This is not only about NVIDIA itself, but also about the global technology and even the financial industry chain. S&P Global Market Intelligence predicts that the company's revenue growth is expected to slow to 113%, and revenue is expected to increase to $28.7 billion.
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Saab 69 : For me I think this pump is for the rich to exit before sept which is typically month for crypto as sell off month !
72085062 Saab 69 :
Trwils1230 : ahiiiiit they got economist on bloomberg talking about possible hikes with upcoming data, labor market issues with railroads and 2 to 5 years of posiationi g i yen carry trade still yet to unwind. seems like they are just building a narrative for to slow and low grind down.... that's the soft landing the engineered slow decent not a flash crash
102131911 Saab 69 : Gentle reminder. Do you remember July was historically a typical month for crypto to pump but did it happened? No.
What's making you think September will follow this so call historically dump month? Think again.
Sorry, just to throw a spanner into the works for fun.