Read the highlights of this week’s commentary from Helios:
- Nvidia posted blowout third-quarter earnings, with revenue and profit soaring on strong demand for its new AI chips. Fueled by data center demand, the company also guided to fourth-quarter revenue well above analyst forecasts. The results briefly eased fears of an AI bubble, though market swings since suggest investors remain wary of high valuations and long-term returns.
- Minutes from the Fed’s October meeting revealed divisions over further rate cuts, with stubborn inflation keeping some on edge. Markets slashed odds of a December cut, though upbeat remarks from the New York Fed President briefly revived hopes. Meanwhile, a delayed jobs report showed stronger hiring, but unemployment rose to 4.4%, its highest level in three years, adding another layer of uncertainty to the Fed’s next move.
- Bitcoin plunged to seven-month lows near $80,000 on November 21, down over 35% from its October peak. The drop triggered $2 billion in forced liquidations and nearly $3 billion in ETF outflows so far in November. The selloff was fueled by fading hopes of a Fed rate cut and a trading system error that accelerated the drop. Margin calls are now pressuring stocks as losses spill into equities.
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