NVDA Fails To Impress, Bitcoin Battered, But Bonds & Black Gold Bid Ahead Of Fed


NVDA showed off a new chip and a robot... BoJ did their hawkish thing (but promised to save the world if things went to crap)... US housing data surprised to the upside... and the screens were green... but it wasn't the love-fest so many hoped as anxiety remains ahead of tomorrow's FOMC meeting...

US Stocks overall ended higher into tomorrow's FOMC meeting, led by The Dow and Small Caps (and a late-day buying spree made things even shinier for Fed Day)...

Source: MarketWatch

Black Gold was the day's big winner again, with WTI surging up near USD$83.50, its highest since OCT 2023.

Despite rate-cut expectations falling (hawkishly) further...

Source: Bloomberg

Bitcoin was clubbed like a baby seal after some shenanigans on the BitMEX overnight, but did find support...

...which followed the largest net outflow day for BTC ETFs as someone liquidated a boat-load of GBTC...

Source: Bloomberg

Finally, as the world anxiously await the words and dots of the The Fed tomorrow, there is a growing trade in "no cuts at all in 2024" bets...

How will US stocks react to any hint of that?

Source: Bloomberg

Well that would get The Fed into action pretty quickly...especially in an election year!

Happy Wednesday!

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