Welcome to Markets Desk, your midday read on what's moving money and markets.
The Federal Reserve is back in focus after Chairman Kevin Warsh signaled that December's expected rate hike may not be the last if artificial intelligence-driven growth continues to stoke inflationary pressure. Six months into his so-called regime change, policymakers are wrestling with whether a booming AI economy forces their hand into further tightening well into next year.
That AI boom has a face, and it belongs to Jensen Huang. Nvidia's founder and chief executive has become the defining figure of the semiconductor supercycle, supplying the chips powering the arms race across virtually every major technology platform. His personal net worth has surged alongside the company's revenues, cementing Nvidia as the hardware backbone of the modern AI buildout.
Meanwhile, Morgan Stanley's Mike Wilson is telling clients the recent pain in equities may be creating an entry point. The S and P five hundred dropped nearly three percent last week in a tech-led selloff, but Wilson sees meaningful support in the seventy-one hundred to seventy-three hundred range and argues the index is a conditional buy at current levels, contingent on earnings holding up through year end.
That's the tape. Markets Desk, signing off the floor.
