After last week's data and down-trend, Monday started fresh and shiny for BTFDers ahead of this afternoon's "most important event in the world" - NVDA CEO Jensen Huang's Keynote at GTC.
NVDA has not made a new high since March 8th!!!! Shock horror, and sold off intraday today from earlier juicy gains... before after dip-buyers stepped in...
Nasdaq and S&P led the day with The Dow lagging and Small Caps red. The last 10 minutes saw some selling pressure spoil the party as at least some got a little nervous ahead of Jensen...
The flip-flopping of NDX/RTY continues... so tomorrow should be a RTY >> NDX day?
Source: Bloomberg
'Most Shorted' stocks opened down but were immediately squeezed - though still closed red...
Source: Bloomberg
Treasury yields were higher across the board again today with the long-end underperforming...
Source: Bloomberg
...but rate-cut expectations continued to tumble (now only 70bps of cuts priced in for 2024)...
Source: Bloomberg
...as Breakevens continue to soar (helped by oil)...
Source: Bloomberg
Bitcoin drifted lower today, back below $68,000...
Source: Bloomberg
...as BTC ETF volumes were very low...
Source: Bloomberg
The dollar extended last week's gains...
Source: Bloomberg
Despite dollar strength, gold managed gains also, back above $2160 (spot)...
Source: Bloomberg
Oil prices soared on China growth hope (macro data overnight), and Russian refinery supply issues (Ukraine drone attacks), as well as Iraq promising to abide by OPEC+ production cuts. WTI topped $83 for the first time sine the first week of November...
Source: Bloomberg
Finally, there's no way this happens again, right?
Source: Bloomberg
Over to you, Jensen!!
