The post Traders pray for Nvidia boost as stocks dip red appeared on BitcoinEthereumNews.com.

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. This time yesterday, I was writing about how US equities had started down the road to recovery.  Well, that was short-lived.  The S&P 500 and Nasdaq Composite indexes opened in the red Tuesday and were trading 0.4% and 1.2% lower, respectively, at 2 pm ET.  Big Tech and crypto stocks were not immune. The Bloomberg Mag7 Index, which equally weights seven of the largest companies, was down almost 3% midway through the session.  Nvidia, on the eve of reporting its fourth quarter earnings, was down 1.9% at 2 pm ET. Coinbase and MicroStrategy were down 7.2% and 12.1%, respectively, at that time.  We’re attributing the decline to two things:  Investors are worried about economic growth.  Previously paused tariff plans are, apparently, moving forward.  On this first point, yet another economic report on Tuesday signaled that the US growth outlook isn’t looking stellar. Consumer confidence in February fell by the most since August 2021. The figure, reported by The Conference Board, came in at 98.3 this month. A reading below 100 indicates a pessimistic economic outlook.  In terms of tariffs, President Trump said late Monday that levies against Mexico and Canada are “on schedule.” He didn’t get specific, but the comment comes a few weeks after Trump agreed to pause tariffs on the countries for 30 days.  We’ve written before that the market has been (perhaps remarkably) resilient to tariff threats, likely because the policies have so far been vague, both in terms of timeline and details on percentages. Tariffs are still a headwind, though, and today’s market moves signal that the gusts are starting up.  In terms of more immediate price action, the big market movers this week will be Nvidia earnings (tomorrow) and PCE data…

---

Filed under: News - @ February 25, 2025 9:21 pm