Last week, the market appreciated Fed Chair Jerome Powell’s commentary and the FOMC projections on GDP, unemployment, PCE, and interest rates. The S&P 500 gained 2.31% and is up 10.12% year-to-date. Their revised dot plot showed three cuts expected this year and an increase in the fed participants’ agreement regarding these three cuts. However, participants slightly increased their rate projections for 2025 and 2026 compared to their December projections.
Nvidia announced the arrival of the NVIDIA Blackwell platform during Nvidia’s developer conference last week. Companies expected to adopt Blackwell are Amazon, Dell, Google, Meta, Microsoft, OpenAI, Oracle, Telsa, and xAi.
This week is abbreviated with markets, and our office is closed on Good Friday. However, Personal Consumption Expenditures (PCE), the Feds preferred inflation gauge, will be released on Friday. February’s Core PCE is expected to have increased by 0.30% from January. The market will have a long weekend to digest the data before trading on Monday.
Thank you for reading, and here’s to a great week ahead!
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