OP Wire 8/25 (OP – Lite)

By Steve

📰 Market Focus: Nvidia Earnings + Powell’s Dovish Shift

This week’s spotlight is firmly on Nvidia ($NVDA) as the AI bellwether reports earnings Wednesday after the bell. Investors are looking for cues not just on AI strength, but also on China sales, after reports last week that production of the China-specific H20 chip was halted amid U.S. restrictions and Beijing scrutiny.

Expectations are for another strong quarter, but sentiment in tech has been rattled lately by questions on AI profitability and sustainability. Nvidia’s numbers will carry weight not just for semis, but for the broader AI trade as well. Other notable earnings: $SNOW, $CRWD, $HP (Wednesday), and $BABA (Friday).

📈 Powell Signals Potential Rate Cut

Jerome Powell’s speech at Jackson Hole lit a fire under Wall Street.

Powell acknowledged the Fed could cut in September given risks to the labor market.
He stressed inflation risk remains, but tone was dovish compared to prior weeks.
Markets are now pricing an ~89% chance of a September 25 bps cut and 49% odds of another cut in December.

The result? A sharp reversal higher Friday:

S&P 500 +1.5% to 6,466.91
Nasdaq Composite +1.9% to 21,496
Dow +1.9% to record 45,631.74
Small Caps +3.9%

💻 Tech & Index Levels

The $QQQ tech index ripped +1.54% Friday, closing at 571.97, leaving us just 2% shy of ATH at 583.32.

Key support to hold: ~560
Main watch level: 23585 (NQ higher-timeframe LOI)
Buyers defended the 23,000 zone last week, preventing a larger trend shift.

This week will hinge on whether that higher-low structure continues into fresh highs.

💰 Macro & Earnings Calendar

Economic data this week:

Mon: Building Permits (Jul) 8AM ET, New Home Sales (Jul) 10AM ET
Thu: Q2 GDP (rev)
Fri: PCE Price Index, Michigan Consumer Sentiment

Earnings to watch:

Wed: $NVDA, $SNOW, $CRWD, $HPQ
Fri: $BABA

🌐 Market Snapshots

Bitcoin: $112.7K/coin
Gold: $3,410/oz
Silver: $38.3/oz

🔑 OP Takeaway

This week is all about anticipation into Nvidia’s numbers. Powell’s dovish tilt gave markets a spark, but staying disciplined around LOI levels is key. Tech could run into new highs, or Nvidia could be the catalyst that sets the next move.

👉 Secret Sauce Live Stream today — see you in chat to stack the gains.

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