Fed meeting minutes is to be reported at 11 AM PT today. Treasury ETF TLT is up slightly and 10 year Treasury yield is down slightly.
According to Goldman Sachs, elevated concentration and the strong performance of the "Magnificent 7" have supported hedge fund returns this year but lifted crowding to all time high.
Today's market focus is Nvidea's earnings. Nvidea (NVDA) is to report earnings after market close today. Expectations are high for the report. Its earnings beat record has been priestine, it has beaten estimates in 19 of the last 20 quarters. Last week, Oppenheimer, SIG and Bank of America all raised their NVDA price targets to 650, 625 and 575 respectively. The year today gain for NVDA is 222%!
History tells us that stock market always goes up around Thanksgiving week. I don't remember the market being down1 day before Thanksgiving with my over 40 years watching the market, although it is down this morning. There is no negatice news affecting the market today except investors nerverousness before NVDA earnings. Let's see how things go by the end of today and what happen after market close when NVDA reports its earnings.
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