1. U.S. Economy & The Fed
U.S. GDP came in better than expected, and unemployment claims were a little lower than forecasts. On the surface, the U.S. economy looks like it’s chugging along just fine. But here’s the question: with this kind of data, does the Federal Reserve really have a reason to cut rates?
2. NVDA Earnings Hype
Yesterday, everyone and their grandparents were tuned in to NVIDIA (NVDA) earnings. Why? Because it’s at the forefront of AI. Turns out, no major fireworks. The stock dipped about 3.5% after hours and is down another 0.5% pre-market as I write this.
The lesson: noise only matters so much. Everyone (me included) can be wrong. Don’t bet your rent money on earnings.
3. Commodities Check
- Silver: Watch the $39.50+ level. A break above could mean fireworks.
- Gold: Trading above $3,450 right now. A close above this is encouraging, but real fireworks come above $3,500.
- Oil: Still trending lower. Keep an eye on Russia-Ukraine headlines—could be a driver.
- Copper: Defending $4.50, but bearish sentiment is quietly building.
4. Canada Update
Canadian banks are reporting some solid earnings, with provisions declining. TSX is at all-time highs too. Even Tim Hortons is joining the EV movement with charging stations at 100 locations.
Looks like Canada is back, right? Shhh—let’s not mention sentiment, affordability issues, stagnant wages, massive debt, and rising bankruptcies.
5. Yields, Dollar, & Crypto
Yields didn’t move much on the “good” U.S. GDP report. The dollar looks like it might be setting up for a drop. Catalyst? Maybe a rate cut.
Meanwhile, Bitcoin is building a base around $112,000.
And quick Investing 101: Know what you’re getting into with meme stocks. Please don’t bet your retirement money on them—or at least not all of it.