The positive response in the stock market to Nvida’s earnings/guidance was quite narrow yesterday. Things will have to broaden out more in the tech sector going forward…in order to signal that the worst of the summer swoon in this sector is behind us.
This week’s “Fed Speak” seems to be laying the groundwork for a somewhat hawkish speech from Chairman Warsh this morning. Either way, we believe that he will reiterate his plans to run the Fed in a different way that his three predecessors…and more like the Fed Chairs of the pre-GFC era.
