Hey, Ross here: With big jobs and inflation data due to come out before the Fed meets this month… Brace yourself for a choppy ride as the market keeps adjusting their rate cut expectations. My advice for riding out this turbulence? Follow the smart money. Chart of the Day This chart by Goldman Sachs shows the current “sector tilts” of the institutional investors. Sectors in the top right section….

Hey, Ross here: Yesterday’s market action certainly seemed to confirm September’s negative seasonality. However, it’s worth noting a couple things. First, even though indexes closed lower, they rebounded significantly from intraday lows. And second, in September last year, the first few trading days of the month saw the S&P 500 down over 4% and the Nasdaq down nearly 6%. Despite this, stocks rallied after, making it was still a….

Hey, Ross here: Hope you had a great long weekend. Welcome to the first trading day of a new month… A month that, historically, is the worst ever for the markets. Chart of the Day Source: @RyanDetrick via X This chart ranks the monthly performance of the S&P 500 for  various time frames – since 1950, the past 10 years, the past 20 years, and all post-election years. The….

Hey, Ross here: Market leader Nvidia slightly beat earnings on both the top and bottom line. Yet, the stock closed 0.8% lower yesterday – likely because data center revenues came short of estimates. Despite this, markets closed at fresh highs. That’s a positive sign, because it shows this bull market is not as reliant on Nvidia as many thought. In fact, as today’s chart shows – breakouts are working…..

Hey, Ross here: Nvidia shares slid over 5% in extended trading yesterday after reporting earnings. I’ll unpack it more in tomorrow’s newsletter so that we can see what impact it would have on today’s market action. For now though, let’s keep one thing in mind. It’s not just US stocks that are in a bull market. Chart of the Day This is VEU – the FTSE All-World ex-US Index….

Hey, Ross here: Wall Street is more interested in Nvidia’s earnings later today than Trump’s firing of Fed governor Lisa Cook. Nvidia is likely the most influential stock in the world right now, so I can’t say I’m surprised. Speaking of earnings, here’s a quick question: Which sector do you think surprised the market the most during the latest earnings season? If you said tech… you would be wrong…..