Financial News vs. Noise

Powell gave the market what it wanted on Friday and Ueda was a nothing burger. This sets the stage for market's to continue higher. The debate going forward is going to be whether we get 25 or 50bps in September and whether we get a soft landing or not.

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I still think a hard landing is very much on the table.

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U.S. recession fears exaggerated, economists at Jackson Hole say-MarketWatch

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and I think it's both

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Unemployment is the Fed’s biggest enemy now, Powell says — not inflation.-MarketWatch

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Biggest data point this week is NVDA earnings on Wednesday. I still believe we are in the early innings on AI and that NVDA is a must have, but there is so much opportunity in all the ancillary names.

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Data centers are one area

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Data-Center Owners Get an Edge Over Big Tech Tenants, Finally-WSJ

Tech giants have been a mixed blessing for data-center owners. They are ravenous for space but powerful enough to drive a hard bargain on price. This dynamic held back rent growth for stocks such as EquinixEQIX 1.10%increase; green up pointing triangle for a long time, but things are changing.

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Of all the AI stocks I do believe that Google is the shakiest

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Google Is Vulnerable in AI Race. This Could Help Change That.-Barron's

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A video recently emerged of former Google CEO Eric Schmidt telling a class at Stanford that Google was losing the AI race to start-ups because the company decided work-life balance and being able to work from home was “more important than winning.” He subsequently said he misspoke about Google’s work hours.

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SPY is now closing in on an all time high again

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The QQQs have further to go, but if NVDA doesn't disappoint you have to figure we test highs here.

Small caps are moving towards highs. A risk on environment will benefit them.

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I would be waiting for some sort of weakness to be buying and I would also be somewhat cautious ahead of NVDA earnings.

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