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Yields mixed on profit taking, rate cut expectations stay high
·        Fed’s Cook files lawsuit to stop Trump’s attempt to fire her
·        Traders expect fed funds rate to fall close to 3% area
·        Treasury sees decent demand for $44 bln 7-year note auction
U.S. Treasury yields were mixed on Thursday as some investors took profit from the recent rally in two-year notes, while other maturities including benchmark 10-year notes were stronger on the day.
The yield curve flattened, reversing a strong steepening trend this week that came as investors priced in more rate cuts by the Federal Reserve.
Profit-taking and some month-end repositioning was seen as driving Thursday’s moves, rather than changing expectations on Fed policy.
Marvell Technologies Inc. Stocks – MRVL
PREVIEW: Marvell shares rally ahead of earnings
Marvell Technology MRVL shares jumping 3.7% on Thurs ahead of qtrly results after the bell, as investors focus on AI chip demand and custom segment growthMRVL’s gain followed a quarterly rev forecast from Nvidia that failed to impress Wall Street while still confirming strong demand for AI components
Nvidia Stocks – NVDA
Shares of Nvidia NVDA dipped almost 1% after Sino-U.S. trade uncertainties prompted the leading AI chip designer to exclude potential China sales from its quarterly forecast late on Wednesday.
Investors viewed Nvidia’s report, including a 56% surge in quarterly revenue, as confirmation that demand related to AI technology remains strong, supporting a rally in AI-related stocks that has propelled Wall Street to record highs in recent years.
S&P 500 hits record high as Nvidia results buttress AI rally
·        Weekly jobless claims fall; corporate profits rebound in Q2
·        Snowflake surges on AI-driven revenue forecast
·        HP Inc gains on upbeat Q3 revenue
·        S&P 500 +0.25%, Nasdaq +0.54%, Dow +0.05%
The S&P 500 hit a record high on Thursday after Nvidia’s quarterly report fell short of investors’ high expectations while confirming that spending related to artificial intelligence infrastructure remains strong.
Bitcoin to hit $1.3M by 2035 as institutions drive demand
·        Bitwise forecasts Bitcoin price to reach $1.3 million by 2035, projecting 28.3% annualized returns that outpace traditional assets.
·        Institutional investors dominate Bitcoin demand, with corporate holdings surging and Strategy leading in accumulation.
·        Limited supply, strong holding, and macroeconomic pressures create a setup for long-term Bitcoin price growth.
Snowflake Inc. Stocks – SNOW
Snowflake Up Over 18%, on Track for Highest Close Since April 2022
Delivered quarterly results that beat Wall Street expectations on both earnings and revenue.
If this move proved to be sustainable – to stay above 232.85, Snow would be gunning for 261.15 in coming days.
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