(Bloomberg) — Yet another bumper earnings readout from Nvidia Corp. may be all it takes to reignite Wall Street’s appetite for US stocks.
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JPMorgan Chase & Co.’s trading desk, led by Head of US Market Intelligence Andrew Tyler, said in a report before markets opened Thursday that the results could fuel another bullish shift toward US stocks and overshadow recent hand-ringing about when the Federal Reserve will start cutting interest rates.
That’s exactly what happened, with a fresh-bout of excitement about the impacts of artificial-intelligence technology sending the S&P 500 Index up more than 2% in its best day since November. The technology-heavy Nasdaq 100 Stock Index climbed over 3%.
“This may be a catalyst, not only for the Street to get materially more bullish on US equities, but also to see a further decoupling of stocks and yields since the Magnificent 7 are proving to deliver on earnings…
