"All after the Federal Reserve President John Williams suggested that the central bank cut rates in December. He believes the central bank can lower its key interest rate from here, as labor market weakness poses a bigger economic threat than higher inflation. As a result, the odds of a rate cut jumped to 70%, as compared to 50-50-coin toss odds yesterday, and from 95% odds last month."
"AI stocks are also pushing higher this morning, despite more talk of a bubble, which doesn't exist. Even Nvidia CEO Jensen Huang dispelled bubble fears. 'There's been a lot of talk about an AI bubble. From our vantage point, we see something very different,' as quoted by QZ.com. So, it came as no shock that more analysts are jumping on the NVDA bandwagon. In fact, analysts at Raymond James reinstated their strong buy rating on NVDA."
"So, it came as no shock that more analysts are jumping on the NVDA bandwagon. In fact, analysts at Raymond James reinstated their strong buy rating on NVDA. The firm said, NVDA "leads in AI and is a core holding. NVIDIA retains significant competitive moats with an extensive and mature software stack resulting from over a decade head start, a strong community supported by the leading developers, and its full-stack systems approach and platform cadence," as quoted by CNBC."
Major indices regained lost momentum after the Federal Reserve signaled a potential December rate cut because labor market weakness posed a larger economic threat than higher inflation. The odds of a rate cut rose to 70% from about 50% the prior day. AI stocks pushed higher despite bubble talk, and Nvidia dismissed bubble concerns. Analysts increased bullish stances: Raymond James reinstated a strong buy on NVIDIA citing competitive moats and a mature software stack; Deutsche Bank resumed coverage of Carvana with a Buy rating and $395 target; Raymond James upgraded Doximity to strong buy with a $75 price target.
Read at 24/7 Wall St.
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