Nvidia (NVDA) Dips Below Trendline as Fed Chairman Pooh-Poohs Rate Cut Speculation

Quick Summary:

The Fed’s Christopher Waller sees no rush to cut interest rates.  He sees recent inflation data as disappointing and wants to see better inflation numbers prior to making the first rate cut.  Waller said, “[the data] tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2%.”

University of Michigan Consumer Sentiment will be released at 10am ET.  This may be market moving.

Note the following: This article is about the big picture, not an individual stock.  The chart of NVDA stock is being used to illustrate the point.

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Author / Journalist: The Arora Report

Category: Technology

Markets: United States

Topics: Contributors AAPL US5949181045 US0231351067 US38259P7069 META MSFT US88160R1014 US73935A1043 GOOG Benzinga Tech AMZN US67066G1040 TSLA Markets News $BTC US0378331005 QQQ NVDA

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Article Type: News Report

Published On: 2024-03-28 @ 15:54:58 (1 months ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 727 words

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News ID: 20544705

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