Market Pulse: Nvidia’s Numbers Keep the Pulse Racing—But Daylight is a Guess
Grab your coffee. The market’s ending the day in a gentle swirl, with those numbers from Nvidia still humming in the background while the rush of data loading on the horizon threatens to change everything.
Yesterday’s Highlight: Nvidia’s Earnings
For the day, NVDA stands as the headline act. The chip king delivered a solid Y4 win:
- Adjusted EPS: $0.89 (beat the $0.84 guess)
- Revenue: $39.3 bn (~$38.25 bn predicted)
- Margins: 73.5% – just where the Street expected
- First‑quarter outlook: $43 bn ± 2%
Even after the heist of earnings, Nvidia’s shares are still jittery. That jitter isn’t due to the chipmaker’s performance; it’s because the AI boom still feels alive, and new challengers like Deepseek are raising the bar. With the earnings all out of the way, traders are eyeing next Friday’s NFP as the biggest domino that might topple the current calm.
The Rest of the Day: Slow & Steady
Post‑earnings, the market didn’t have a spark—no fireworks, just a low‑key hum.
- Cash equities: flat. Investors are still clutching at the possibility the market is too bleak to play the dip‑buy game.
- U.S. Treasuries: yields dipped 5 bp on the 10‑year, slipping below 4.25% for a moment. The longer‑term tilt is toward the “dovish trot” – it’s looking easier to see the Fed stay soft.
- FX: the dollar held its range, hovering near 106.5. Looks like the G10 currencies stayed quiet too. I’m still a dollar‑dip proponent because the US is that “cleanest dirty shirt” we stand on.
What’s on the Radar for Today?
You’ll notice a rough patch of data, though even before the Nvidia piece has spread, the data ladder is set to start climbing again:
- US Q4 GDP (2nd estimate) – likely +2.3% on an annualised basis. A downward revision will feel like acid; the market is swayed harder than usual.
- Durable goods orders, pending home sales, jobless claims (Feb NFP).
- Euro Zone: ECB January minutes (meh, but worth watching).
- Fed speech catalogue this week: Barr, Bowman, Schmid (2025), Harker & Hammack (2026), Barkin (2027).
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