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NVDA - Earning Season Starts This Friday With High Expectations Traders Build Cash
NVIDIA Corporation
2024-07-07 23:40:18 ET
Summary
Q2 earnings season begins with banks reporting, expectations of 9% growth, and positive future guidance revisions.
The Fed may cut rates sooner than I thought due to a weakening economy, rising unemployment rate, and falling GDP estimates.
In the near term, the market rally may broaden with AI-driven stocks leveling off, potential benefits of lower rates, and potential recession concerns.
We rallied on Friday and there is no reason to believe this rally ends this week