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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