One Down, Warsh To Go

Nvidia is looking to open 6% higher after reporting results after the close. I don’t do fundamentals on individual stocks but the numbers they’re talking about are pretty crazy. In case you missed my post over on the X, I brought Elvis Costello into the chat with his iconic Pump It Up.

But the week’s not over and what may prove to be the more important event lands on Friday when we hear from Kevin Warsh at the St. Louis Fed’s annual Jackson Hole symposium. Once again, I was not invited to attend. 😉

As we approach the weekend, Hump Day concluded with the VIX Mix near the border between Neutral and Bullish. 11 0f 17 components in the green with three on the other end of the spectrum.

Not really any surprise that we are back in the neutral zone given the recent pullback in SPX from its most recent all-time high on Aug 13th. But we remain less than 2% off of that high and will likely shrink that some today on the back of the Nvidia beat. As I write this, markets are taking a negative view of the latest jobs report so all the more import to be placed on Warsh’s speech tomorrow.

I will be hitting the road today for a few days of R&R at higher elevation. I’ll keep an eye on things and have some popcorn ready for tomorrow morning. Kevin has a needle to thread and he knows it.

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