NVIDIA stirs up AI madness
Share markets have jumped since the NVIDIA earnings, but does it change anything with Fed timing? And do the ECB minutes really read like they will cut in June. NAB’s Ken Crompton joins Phil.
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Show Notes
Friday 23rd February 2024
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The caution we’ve been seeing in the US share market has dissolved completely since the release of NVIDIA earnings yesterday. NAB’s Ken Crompton says the euphoria has even spread as far as Japan. But is too much good news taken by the Fed as another reason to delay rate cuts? You could also question whether the ECB will delay longer than June. The minutes of their last meeting note the risk of cutting too early if greater than the risk of a delay. Today the diary is light, with retail sales for New Zealand the focus. A weak result would surely remove the chance of a hike by the RBNZ next week?
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