Barron’s (August 22)
“The stock market snatched victory from the jaws of defeat this past week, thanks to a surprisingly dovish Jerome Powell.” Last week, fear had taken over. “Artificial-intelligence fever had turned into AI flu, causing Nvidia stock to drop for three consecutive days and the rest of the Mag Seven to stumble. Then, Federal Reserve Chair Jerome Powell’s speech at Jackson Hole suggested he was leaning toward a September interest-rate cut, sending stocks roaring back.” A strong earnings report from Nvidia could provide the catalyst to fully bring “those sputtering animal spirits should roar back to life.”
Tags: AI flu, Defeat, Dovish, Earnings report, Fear, Fed, Interest-rate cut, Jackson Hole, Mag Seven, Nvidia, Powell, Stock market, Stumble, Victory
