Discover Why the July Personal Consumption Expenditures (PCE) Index and NVIDIA’s Quarterly Earnings Report Will Make This Week a Winner on Wall Street
As summer winds down, Wall Street is gearing up for a positive week ahead. The upcoming release of the July Personal Consumption Expenditures (PCE) index is expected to confirm that the inflation battle is over. With estimates pointing towards a 0.13% increase in the PCE, the Federal Reserve’s 2% inflation target is well within reach.
Federal Reserve Chair Jerome Powell’s recent comments at the Kansas City Fed conference have set the stage for an inevitable interest rate cut on September 18. The focus has shifted from inflation concerns to worries about the labor market, with a rate cut in September now a certainty.
Additionally, NVIDIA’s upcoming earnings report on August 28 is poised to continue the trend of better-than-expected results. With expectations of a 128% increase in earnings and an 89% rise in revenue year-over-year, NVIDIA’s transition to its newer AI chip will be closely watched for any delays or glitches.
The positive outlook for the week is further supported by a historical trend of market rallies leading into long holiday weekends. With a strong earnings report from NVIDIA and a favorable PCE reading expected, this week is shaping up to be a winner for the stock market.
In preparation for the week ahead, a review of 73 big blue chip stocks has resulted in several upgrades and downgrades. Notable upgrades include Best Buy Co., Inc. (BBY), Citizens Financial Group, Inc. (CFG), and General Motors Company (GM) among others.
With NVIDIA’s continued success and the financial superintelligence guiding investment decisions, there is a wealth of opportunities for investors to capitalize on fundamentally superior stocks. Whether it’s NVIDIA or other companies on the Buy List, the potential for significant gains is within reach.
Don’t miss out on the chance to leverage this financial superintelligence for your benefit. Take control of your investments and position yourself for success in the market.
Sincerely,
Louis Navellier
Editor, Market 360
(Disclaimer: The Editor holds securities in NVIDIA Corporation (NVDA))