{"id":197308,"date":"2024-08-29T11:15:00","date_gmt":"2024-08-29T15:15:00","guid":{"rendered":"https:\/\/ibkrcampus.eu\/campus\/uncategorized\/stocks-apparently-dont-need-nvidia\/"},"modified":"2024-08-30T11:51:03","modified_gmt":"2024-08-30T11:51:03","slug":"stocks-apparently-dont-need-nvidia","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/","title":{"rendered":"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024"},"content":{"rendered":"\n
Stocks are soaring on the back of stronger-than-expected economic data and a long list of sell-side analysts reassuring investors that Nvidia\u2019s growth trajectory remains intact. Indeed, softening unemployment claims and an upward revision to second-quarter GDP growth are keeping recession fears at bay while pointing to a slow and controlled walk down the monetary policy stairs. Also, price pressures were revised lower for the last quarter, which is strengthening odds of the ideal soft landing. On the other hand, some retailers reported that their customers are facing substantial budget constraints.<\/p>\n\n\n\n
Pink Slips Ease as Labor Market Remains Tight<\/strong><\/h2>\n\n\n\n
While some folks would like to see the Fed dish out a 50-basis point (bp) cut next month to counter a weakening employment landscape, labor conditions were healthy during the last two weeks, according to this morning\u2019s unemployment claim data. Layoffs were well anchored, with initial unemployment claims of 231,000 during the week ended August 24 lower than the 232,000 median estimate and the prior term\u2019s 233,000. Conversely, continuing claims totaling 1.868 million throughout the week ended August 17 increased by 13,000 from the prior period but were still lower than projections of 1.870 million. Four-week moving averages ticked south for both indicators, from 236,250 and 1.864 million to 231,500 and 1.863 million.<\/p>\n\n\n\n<\/figure>\n\n\n\n
Past performance is not indicative of future results<\/p>\n\n\n\n
The Narrow Path to a Soft Landing Widens<\/strong><\/h2>\n\n\n\n
This morning\u2019s second-quarter revisions to Gross Domestic Product and the Personal Consumption Expenditures inflation gauges offered pleasant surprises. The pace of economic growth was upgraded from 2.8% to 3% while price pressures were downgraded 10 bps to 2.5% for headline and 2.8% for core. Overall, improving activity and subdued cost challenges have widened the path toward a soft landing.<\/p>\n\n\n\n
Lack of Affordability Dings Residential Real Estate Activity<\/strong><\/h2>\n\n\n\n
Pending home sales slipped last month as affordability remains depressed despite improving inventory conditions. Prospective buyers also expressed a wait-and-see perspective, expecting the result of the November presidential election to possibly alleviate headwinds. Contract signings dropped 5.5% month over month to the lowest level since the indicator began in 2001. All regions posted declines.<\/p>\n\n\n\n<\/figure>\n\n\n\n
Past performance is not indicative of future results<\/p>\n\n\n\n
Investors Have Mixed Reactions to Artificial Intelligence Beneficiaries<\/strong><\/h2>\n\n\n\n
Artificial intelligence (AI) is continuing to drive strong sales of technology products, but outside the tech sector, lower-income consumers are still tightening their budgets. Those are a few takeaways from the following earning highlights:<\/p>\n\n\n\n
\n
Nvidia (NVDA) shares fell more than 8% last night as investors questioned the sustainability of the company\u2019s blistering growth that has been driven by demand for AI products. The manufacturer of semiconductors and technology systems also reported a delay with rolling out its Blackwell chips due to having to tweak the product\u2019s design. Nvidia is also facing competition from firms such as Advanced Micro Devices that have issued strong sales projections. Meanwhile, regulators are assessing Nvidia\u2019s dominance in the AI sector and U.S. restrictions on exporting technology to China are also hurting investor sentiment. Nevertheless, Nvidia\u2019s earnings and revenue more than doubled year over year (y\/y) during the recent quarter, blowing past analysts\u2019 expectations. For the current quarter, Nvidia expects revenue to climb 80% y\/y to $32.5 billion. Analysts anticipated guidance calling for $31.7 billion. Chief Executive Officer Jensen Huang maintains that AI is in the early stages of creating strong demand for advanced computing chips as large companies and startups embrace the technology.<\/li>\n\n\n\n
Salesforce (CRM) reported an 8% y\/y increase in revenue, which along with earnings, exceeded analyst consensus expectations, but the provider of client relationship management software and other enterprise applications maintained its cautious outlook, citing businesses\u2019 longer sales cycles and increased scrutiny of technology budgets. During an earnings call last night, executives said they will launch Einstein Copilot for Merchants, which will compose product pages and promotions with only a few words of human input. For the current quarter, Salesforce anticipates $9.31 billion in revenue, missing analysts\u2019 expectation for $9.41 billion. The bottom of the company\u2019s earnings per share guidance range fell two cents below the analyst expectation. CRM shares climbed 4% in after-market trading.<\/li>\n\n\n\n
Best Buy (BBY) earnings and revenue exceeded analyst consensus expectations despite the company experiencing a 2.3% y\/y comparable sales decline. The metric, which excludes results of newer stores, was 3.9 percentage points better than in the year-ago quarter. An increase in sales of tablets and home computers was more than offset by a decline in gaming, appliances and home theater transactions. Encouragingly, CEO Corie Barry said consumers are willing to open their wallets for high-price-point products when the need arises or when new, compelling technology becomes available. The company believes the industry is stabilizing following a large decline in sales after consumers splurged on electronics during the Covid-19 pandemic. Additionally, the impact of AI is just starting to drive increased consumer demand for technology. AI has the potential to boost sales across different electronic categories. Shares of BBY jumped more than 14% following the earnings release.<\/li>\n\n\n\n
Dollar General (DG), meanwhile, posted fiscal second-quarter results that point to lower-income consumers struggling with inflation. Its shares tanked 25% this morning after the company reduced its fiscal-year, same-store sales growth guidance range to 1% to 1.6%, down from its previous forecast of 2% to 2.7%. While sales climbed 4.2% y\/y, overall revenue and earnings missed analyst consensus expectations. In a prepared statement, CEO Todd Vasos said the results reflect consumers feeling financially constrained and the company\u2019s need to improve inventory management.<\/li>\n<\/ul>\n\n\n\n
Equities Stage a Broad Advance<\/strong><\/h2>\n\n\n\n
All major US equity indices are gaining on the session with the Nasdaq Composite, Russell 2000, S&P 500 and Dow Jones Industrial benchmarks flying north by 1.1%, 0.8%, 0.7% and 0.6%. Sectoral breadth is positive, with 9 out of 11 climbing. Technology, industrials and consumer discretionary are piloting the bulls; they\u2019re up 1%, 0.9% and 0.9%. Real estate and consumer staples are the day\u2019s laggards, dropping 0.8% and 0.5%, respectively. Yields are escalating with the 2- and 10-year Treasury maturities changing hands at 3.89% and 3.9%, 3 and 4 bps loftier on the session. The Dollar Index is taking its cue from rates; it\u2019s up 37 bps as the greenback appreciates relative to the franc, yen, euro and pound sterling, but it is depreciating against the yuan and Aussie and Canadian dollars. Commodities are bullish as well, with crude oil, silver, gold, copper and lumber up 1.3%, 1.3%, 0.7% and 0.3% and 0.2%. WTI is trading at $76.07 per barrel as the Libyan supply situation worsens relative to expectations, with 700,000 barrels shut off today as well as exports being suspended. <\/p>\n\n\n\n
Stocks are soaring on the back of stronger-than-expected economic data and a long list of sell-side analysts reassuring investors that Nvidia\u2019s growth trajectory remains intact. <\/p>\n","protected":false},"author":903,"featured_media":197312,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[58,146,147,8,12,148,7],"tags":[677,1548,1893,1862],"contributors-categories":[370],"class_list":{"0":"post-197308","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-economic-landscape","8":"category-macro","9":"category-north-america","10":"category-region","11":"category-securities","12":"category-text-articles","13":"category-traders-insight","14":"tag-gdp","15":"tag-initial-claims","16":"tag-macro-outlook","17":"tag-pending-home-sales","18":"contributors-categories-ibkr-macroeconomics"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\n
Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024<\/title>\n<meta name=\"description\" content=\"Stocks are soaring on the back of stronger-than-expected economic data and a long list of sell-side analysts reassuring investors that Nvidia\u2019s growth...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/197308\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024\" \/>\n<meta property=\"og:description\" content=\"Stocks are soaring on the back of stronger-than-expected economic data and a long list of sell-side analysts reassuring investors that Nvidia\u2019s growth trajectory remains intact.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus EU\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-29T15:15:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-30T11:51:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2024\/08\/real-estate-red-green-featured-img.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jose Torres\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jose Torres\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t \"@context\": \"https:\\\/\\\/schema.org\",\n\t \"@graph\": [\n\t {\n\t \"@type\": \"Article\",\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/#article\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/\"\n\t },\n\t \"author\": {\n\t \"name\": \"Jose Torres\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/92c2be3b6162d92fb996417221509b6e\"\n\t },\n\t \"headline\": \"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024\",\n\t \"datePublished\": \"2024-08-29T15:15:00+00:00\",\n\t \"dateModified\": \"2024-08-30T11:51:03+00:00\",\n\t \"mainEntityOfPage\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/\"\n\t },\n\t \"wordCount\": 1061,\n\t \"commentCount\": 0,\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2024\\\/08\\\/real-estate-red-green-featured-img.jpg\",\n\t \"keywords\": [\n\t \"gdp\",\n\t \"initial claims\",\n\t \"macro outlook\",\n\t \"Pending Home Sales\"\n\t ],\n\t \"articleSection\": [\n\t \"IBKR Economic Landscape\",\n\t \"Macro\",\n\t \"North America\",\n\t \"Region\",\n\t \"Securities\",\n\t \"Text Articles\",\n\t \"Traders' Insight\"\n\t ],\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"CommentAction\",\n\t \"name\": \"Comment\",\n\t \"target\": [\n\t \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/#respond\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/\",\n\t \"name\": \"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024 - IBKR Campus EU\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#website\"\n\t },\n\t \"primaryImageOfPage\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/#primaryimage\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2024\\\/08\\\/real-estate-red-green-featured-img.jpg\",\n\t \"datePublished\": \"2024-08-29T15:15:00+00:00\",\n\t \"dateModified\": \"2024-08-30T11:51:03+00:00\",\n\t \"author\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/92c2be3b6162d92fb996417221509b6e\"\n\t },\n\t \"description\": \"Stocks are soaring on the back of stronger-than-expected economic data and a long list of sell-side analysts reassuring investors that Nvidia\u2019s growth trajectory remains intact.\",\n\t \"breadcrumb\": {\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/#breadcrumb\"\n\t },\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"ReadAction\",\n\t \"target\": [\n\t \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/#primaryimage\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2024\\\/08\\\/real-estate-red-green-featured-img.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2024\\\/08\\\/real-estate-red-green-featured-img.jpg\",\n\t \"width\": 1000,\n\t \"height\": 563,\n\t \"caption\": \"real estate red\\\/green\"\n\t },\n\t {\n\t \"@type\": \"BreadcrumbList\",\n\t \"@id\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/stocks-apparently-dont-need-nvidia\\\/#breadcrumb\",\n\t \"itemListElement\": [\n\t {\n\t \"@type\": \"ListItem\",\n\t \"position\": 1,\n\t \"name\": \"Home\",\n\t \"item\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/\"\n\t },\n\t {\n\t \"@type\": \"ListItem\",\n\t \"position\": 2,\n\t \"name\": \"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024\"\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebSite\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#website\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/\",\n\t \"name\": \"IBKR Campus EU\",\n\t \"description\": \"\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"SearchAction\",\n\t \"target\": {\n\t \"@type\": \"EntryPoint\",\n\t \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/?s={search_term_string}\"\n\t },\n\t \"query-input\": {\n\t \"@type\": \"PropertyValueSpecification\",\n\t \"valueRequired\": true,\n\t \"valueName\": \"search_term_string\"\n\t }\n\t }\n\t ],\n\t \"inLanguage\": \"en-US\"\n\t },\n\t {\n\t \"@type\": \"Person\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/92c2be3b6162d92fb996417221509b6e\",\n\t \"name\": \"Jose Torres\",\n\t \"description\": \"Jos\u00e9 Torres is Senior Economist at Interactive Brokers. In this capacity, he is responsible for economic analysis, economic commentary and educational content focused on the economy. Prior to joining Interactive Brokers, Jos\u00e9 spent 6 years working as an economist in the United States government within the Federal Deposit Insurance Corporation (FDIC) and the Bureau of Labor Statistics (BLS). During his time with the U.S. government, Jos\u00e9 frequently led presentations covering economic conditions and forecasts for elected officials, political appointees and senior management. He also built economic models, consulted with private sector executives, contributed to the modernization of economic processes and gained recognition for predicting the inflationary episode of the 2020s. Jos\u00e9 has also been a professor of economics at the City University of New York and holds a master\u2019s degree in financial economics from West Texas A&M University. His skillset includes the ability to communicate and analyze complex economic topics in English and in Spanish and throughout his career, he has been interviewed by media outlets including Bloomberg, CNBC, CNN, WSJ, AP, Yahoo Finance, Cheddar, Business Insider, Seeking Alpha, PBS, FOX, Economic Times, Univision, Telemundo and others.\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/author\\\/jose-torres\\\/\"\n\t }\n\t ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024","description":"Stocks are soaring on the back of stronger-than-expected economic data and a long list of sell-side analysts reassuring investors that Nvidia\u2019s growth...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/197308\/","og_locale":"en_US","og_type":"article","og_title":"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024","og_description":"Stocks are soaring on the back of stronger-than-expected economic data and a long list of sell-side analysts reassuring investors that Nvidia\u2019s growth trajectory remains intact.","og_url":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/","og_site_name":"IBKR Campus EU","article_published_time":"2024-08-29T15:15:00+00:00","article_modified_time":"2024-08-30T11:51:03+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2024\/08\/real-estate-red-green-featured-img.jpg","type":"image\/jpeg"}],"author":"Jose Torres","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jose Torres","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/#article","isPartOf":{"@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/"},"author":{"name":"Jose Torres","@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/92c2be3b6162d92fb996417221509b6e"},"headline":"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024","datePublished":"2024-08-29T15:15:00+00:00","dateModified":"2024-08-30T11:51:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/"},"wordCount":1061,"commentCount":0,"image":{"@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2024\/08\/real-estate-red-green-featured-img.jpg","keywords":["gdp","initial claims","macro outlook","Pending Home Sales"],"articleSection":["IBKR Economic Landscape","Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/","url":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/","name":"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024 - IBKR Campus EU","isPartOf":{"@id":"https:\/\/ibkrcampus.eu\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/#primaryimage"},"image":{"@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2024\/08\/real-estate-red-green-featured-img.jpg","datePublished":"2024-08-29T15:15:00+00:00","dateModified":"2024-08-30T11:51:03+00:00","author":{"@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/92c2be3b6162d92fb996417221509b6e"},"description":"Stocks are soaring on the back of stronger-than-expected economic data and a long list of sell-side analysts reassuring investors that Nvidia\u2019s growth trajectory remains intact.","breadcrumb":{"@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/#primaryimage","url":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2024\/08\/real-estate-red-green-featured-img.jpg","contentUrl":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2024\/08\/real-estate-red-green-featured-img.jpg","width":1000,"height":563,"caption":"real estate red\/green"},{"@type":"BreadcrumbList","@id":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/stocks-apparently-dont-need-nvidia\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.interactivebrokers.eu\/campus\/"},{"@type":"ListItem","position":2,"name":"Stocks Apparently Don\u2019t Need Nvidia: Aug. 29, 2024"}]},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.eu\/campus\/#website","url":"https:\/\/ibkrcampus.eu\/campus\/","name":"IBKR Campus EU","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.eu\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/92c2be3b6162d92fb996417221509b6e","name":"Jose Torres","description":"Jos\u00e9 Torres is Senior Economist at Interactive Brokers. In this capacity, he is responsible for economic analysis, economic commentary and educational content focused on the economy. Prior to joining Interactive Brokers, Jos\u00e9 spent 6 years working as an economist in the United States government within the Federal Deposit Insurance Corporation (FDIC) and the Bureau of Labor Statistics (BLS). During his time with the U.S. government, Jos\u00e9 frequently led presentations covering economic conditions and forecasts for elected officials, political appointees and senior management. He also built economic models, consulted with private sector executives, contributed to the modernization of economic processes and gained recognition for predicting the inflationary episode of the 2020s. Jos\u00e9 has also been a professor of economics at the City University of New York and holds a master\u2019s degree in financial economics from West Texas A&M University. His skillset includes the ability to communicate and analyze complex economic topics in English and in Spanish and throughout his career, he has been interviewed by media outlets including Bloomberg, CNBC, CNN, WSJ, AP, Yahoo Finance, Cheddar, Business Insider, Seeking Alpha, PBS, FOX, Economic Times, Univision, Telemundo and others.","url":"https:\/\/www.interactivebrokers.eu\/campus\/author\/jose-torres\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.eu\/campus\/wp-content\/uploads\/sites\/3\/2024\/08\/real-estate-red-green-featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts\/197308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/users\/903"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/comments?post=197308"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts\/197308\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/media\/197312"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/media?parent=197308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/categories?post=197308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/tags?post=197308"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/contributors-categories?post=197308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"\"](\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/08\/Unemployment-Claims-8-29-24.png\")
<\/figure>\n\n\n\n![\"\"](\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/08\/Pending-Home-Sales-8-29-24.png\")
<\/figure>\n\n\n\n