![\"Signature\"](\"https:\/\/files.jeffclarktrader.com\/global\/signatures\/jeff-clark-signature.png\")
<\/p>\nNow what?<\/p>\n\n\n\n
NVDA\u2019s earnings report is out of the way. The company crushed it \u2013 to no one\u2019s surprise. NVDA beat expectations for revenue and earnings. Management guided numbers higher for next quarter. And, the report confirmed AI spending is accelerating.<\/p>\n\n\n\n
Wall Street reacted to \u201cthe most important earnings report of all-time\u201d with a giant YAWN.<\/p>\n\n\n\n
NVDA shares fell $4 on Thursday \u2013 giving up the gains it made on Wednesday, heading into the report. The S&P 500 put up a lackluster performance \u2013 up 0.17%. And, the NASDAQ 100, the market\u2019s top performing index in 2026, gained just 0.2%.<\/p>\n\n\n\n
Like I said\u2026 YAWN.<\/p>\n\n\n\n
Which leads me to wonder, if the market can\u2019t pop higher after the poster child for the AI revolution posts blow-out numbers, what\u2019s left?<\/p>\n\n\n\n
What\u2019s left, now, to motivate investors to throw fresh money into the market and push stock prices to new highs from here?<\/p>\n\n\n\n
Lower interest rates are off the table. Treasury bonds have been selling off recently \u2013 causing long term rates to rise to their highest levels in a year. And, the FOMC minutes released Wednesday confirmed the Fed has almost no chance of lowering short-term rates anytime soon.<\/p>\n\n\n\n
The end of the military conflict with Iran could be good enough news to motivate investors to \u201cbuy, buy, buy\u201d if that event wasn\u2019t already being discounted by the market.<\/p>\n\n\n\n
After all, the major market indexes are already higher today than when the conflict began. And, the President seems to comment almost daily that we\u2019re \u201cnearing an agreement\u201d with Iran. Each comment has inspired some buying interest. But, the bounces are becoming less and less enthusiastic. By the time the final agreement is reached, we probably won\u2019t get any upside reaction at all.<\/p>\n\n\n\n
Maybe the enthusiasm over the SpaceX and Anthropic IPOs will keep the bullish party going. Or maybe, rather than attracting new money from off the sidelines, those IPOs will be funded by investors selling existing stock holdings and then using the proceeds to buy the new listings. If that happens, then the IPOs will actually be a net drain of liquidity from the market.<\/p>\n\n\n\n
Frankly, there really doesn\u2019t seem to be anything between now and the start of the next earnings season that could inspire investors to chase stocks higher. And, absent any good reason to buy, investors might find a few reasons to sell.<\/p>\n\n\n\n
So, the path of least resistance is likely to be lower for the next few weeks \u2013 until the market starts to discount stellar earnings reports for the current quarter.<\/p>\n\n\n\n
There\u2019s not much to gain by chasing stocks higher right here. We\u2019ll likely have a better chance to add exposure to the stock market in the weeks ahead.<\/p>\n\n\n
Best regards and good trading,<\/p>\n
<\/p>\n
Jeff Clark When even good news can\u2019t move markets, it\u2019s time to ask what comes next\u2026<\/p>\n","protected":false},"author":159,"featured_media":0,"comment_status":"closed","ping_status":"0","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[7],"newsletter-type":[],"ticker":[],"class_list":["post-27320","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-jeff-clark"],"acf":[],"ai_tts_audio_outdated":false,"ai_tts_content_changed_during_generation":false,"ai_tts_legacy_post":false,"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/27320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/159"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=27320"}],"version-history":[{"count":4,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/27320\/revisions"}],"predecessor-version":[{"id":27338,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/27320\/revisions\/27338"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=27320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=27320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=27320"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=27320"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=27320"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=27320"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=27320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEditor, Market Minute<\/em><\/p>","protected":false},"excerpt":{"rendered":"