Just as the demise of one company - think Xerox during the ascendancy of the internet or Eastman Kodak as digital photography emerged - would not take down the entire stock market, one company's success should not determine the upward direction of it either.
But, that's exactly what's being suggested by the fanbois and Wall Street snake-oil-selling slugs of Nvidia (NVDA), the company at the heart of the AI and Magnificent 7 trade. The company announced blowout third quarter results after the bell Wednesday, and analysts were falling over each other to praise the company and announce the end of the vicious selling that's been taking place the past few weeks.
It's utter rubbish. Nvidia may have had a great quarter and so too, the other members of the cool kids' Mag7 gang, but how's that going to affect Christmas shopping, the real estate market, pharma, manufacturing, etc.? Sure, there will be extra big bucks floating around lower Manhattan and Silicon Valley, but, overall, the company selling chips to other companies that use those chips - and also invest in each other - isn't going to lower the price of coffee, increase occupancy in commercial buildings, or make more people shop at Target. It's just not a one-to-one relationship.
None the less, Wall Street has found its darling and will run with it, until the whole AI story blows completely apart, because, in the end, AI is about as fake and gay as Hollywood. It robs content from real providers, distributes what is often erroneous information, and, as an added bonus, threatens to shrink the available job market globally.
That last part, about jobs, dovetails directly into the other big event this Thursday morning, the delayed release of September Non-farm payrolls by the BLS, which certainly will be fake, and maybe gay, so there's that to consider as well. September NFP was delayed because of the government shutdown, which may or may not have been fake, but absolutely was gay. The usual suspect experts are looking for job gains of 50,000 or so, which will satisfy the othr horde of cheerleaders, those hoping the Fed will lower interest rates when they meet on December 9 and 10.
It all adds up to a massive buy-the-dip "because we told you so" rally today and probably on Friday as well, because stocks always go up on Friday. It's in the exchange rules, or so it's said.
All this news has been beneficial to the crypto crowd as well, or so it seems, since bitcoin and the other popular fake and... well, you know, "coins" and tokens and their associated ETFs and other derivatives were boosted on the Nvidia news. Bitcoin galloped off lows below $89,000 to as high as $92,777, though it has pulled back a bit since then.
And, apparently, AI and chip-world is bad for precious metals, though that's hardly a surprise, since any kind of news, good or bad, seems to be bad for gold and silver.
Yes, this is cynicism writ large. And, yes, Money Daily doesn't care.
At 8:30 am ET the BLS released September Non-farm Payrolls, which showed job gains of 119,000 for the month. The unemployment rate jumped to its highest in three years, at 4.4%.
For what it's worth, Nvidia (NVDA) was 5.46% higher in pre-market trading.
Just prior to the BLS NFP release, Dow futures: +257; NASDAQ futures: +457; S&P futures: +81.50.
Just after the release: Dow futures: +365; NASDAQ futures: +508; S&P futures: +100.
So, a nice boost. Strap yourself in. The takeoff is likely to be jarring.
At the Close, Wednesday, November 19, 2025:
Dow: 46,138.77, +47.03 (+0.10%)
NASDAQ: 22,564.23, +131.38 (+0.59%)
S&P 500: 6,642.16, +24.84 (+0.38%)
NYSE Composite: 21,168.28, -4.32 (-0.02%)
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