Charles Green here, Senior Market Analyst here at Traders Agency.
Here’s today Market Pulse 360.
Market Pulse 360 for August 23, 2023
Today is “hump day,” Wednesday, but hump day has significance for the market today with NVDA reporting earnings after the bell this evening.
This will be the most significant earnings report this year! NVDA is the bellwether for technology and the barometer for AI adoption. The market has been trying to find its footing for the past two weeks with a 10% classic correction and looking for direction with the tug-of-war between fears of recession and the new uptrend that began in January this year.
NVDA’s earnings report will impact the market and will decide short-term direction.
In addition, the Fed will be participating in the annual Global Economic Symposium (Aug 24 – Aug 26) at Jackson Hole, and he is likely to remind us that interest rates will remain “higher for longer” to get inflation down to his 2% target rate.
We’re close to 3% now, and recent weakness in the job market, housing market, and some retail sales companies, should continue the downtrend in interest rates to the Fed’s 2% target.
The market is likely to be volatile today and tomorrow with the buildup to NVDA’s earnings report. Regardless of the outcome for NVDAs earnings report, this is a secular growth story that will continue to lead the market going forward.
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A Bit More About Me
My specialty is understanding financial markets and the drivers that influence longer-term direction. I’ve been an active trader focusing primarily on stocks for over 20 years.
I’ve also:
- Been an adjunct finance professor for nearly 20 years
- Worked as a financial consultant with Merrill Lynch managing millions of dollars
- Earned a Master of Science Degree in International Business and Finance from Georgetown University and a Bachelor in Arts Degree in International Studies from George Mason University.
- Spent 14 years as a Marine (I enlisted at age 17) traveling all around the world
My education, work and life experience gives me a broad view of the world, financial markets, and life in general that informs my trading and investment decisions.
My passion is helping others to take advantage of the best market opportunities to achieve their financial goals.
This gives me the greatest satisfaction, and it’s the reason why I continue to teach in the classroom and outside of it today with every activity in which I engage. I believe that I succeed only if clients succeed.
I am a very unlikely success story. And this is only because I believe that anything is possible with the right knowledge, focus, and winning mentality! When you have that, success is just a matter of time.
Charles Green
Senior Market Analyst, Traders Agency
