📊 BE AWARE OF THIS DATA TODAY

This will move the market.

Data Coming Out

We have some important data that is going to move the market significantly today.

I will walk through the most important things to pay attention to and the numbers we are looking for.

FOMC Minutes

We have FOMC minutes releasing at 2:00 PM and this is going to be really important to pay attention to. Over the course of the last few months we have seen probabilities of rate cuts declining and being pushed out further than expected.

You will want to pay close attention to any indications given on when rate cuts can be expected. At this point we are expecting sometime after March but it is not totally clear. Probabilities suggest June is the nearest rate cut we may see.

Once the minutes are released you can use the FedWatch tool to see how probability of rate cuts shift.

NVDA Earnings

As I talked about yesterday, NVDA earnings are going to be huge for the market. Semiconductors have been the story of the market so far in 2024 and investors are looking for continued massive growth from NVDA.

They have a high bar to meet and anything that isn’t in line with the exponential growth they have shown the past few quarters may trigger a sell-off.

If NVDA sells off, I would expect the rest of tech to sell off with it.

I cover in more detail what to watch tomorrow in the video below: