“Markets seem to be kind of, you know, pretty well prepared for that September cut.” – 01:54
Michael Reinking, Senior Market Strategist at the NYSE, joins Remy Blaire to discuss the latest developments in the financial markets, focusing on the implications of Federal Reserve Chair Jerome Powell’s recent speech and the ongoing discussions regarding the independence of the Federal Reserve.
Michael elaborates on the market’s response to Powell’s speech and the broader implications of President Trump’s recent criticisms of the Fed. They discuss the uncertainty surrounding Trump’s calls for the removal of Fed Governor Lisa Cook and how the markets are currently processing this political noise.
As the conversation shifts to the tech sector, Remy and Michael focus on the upcoming earnings report from NVIDIA, which is generating significant interest. Michael highlights the recent fluctuations in tech stocks and the expectations surrounding NVIDIA’s performance, noting that the company has consistently exceeded earnings expectations in the past, setting a high bar for its upcoming report.
Finally, Remy asks Michael to outline key technical levels for the S&P 500 and the 10-year yield. Michael identifies critical support levels to watch as they navigate this potentially volatile period in the markets, emphasizing the importance of monitoring the yield curve and the ongoing discussions about Fed independence, which could influence market dynamics in the coming weeks.