Good afternoon and welcome to Markets Desk, your midday read on what's moving and why.
Nvidia and the broader AI chip space are drawing fresh attention from value-oriented investors after a sustained selloff pushed valuations sharply lower. Nvidia now trades at roughly twenty-nine times earnings, well beneath its average multiple over the past year, raising the question of whether the market has overcorrected on a sector with durable structural demand.
Shifting to biotech, Larimar Therapeutics is getting a lift ahead of a closely watched investor event scheduled for Monday, June twenty-ninth, twenty twenty-six. The clinical-stage company will provide updates on its Nomlabofusp program targeting Friedreich's ataxia, a rare neurological disease, and the market is clearly pricing in the possibility of meaningful clinical progress.
On the commodities side, cattle markets closed the week under pressure, with live cattle finishing down as much as forty cents across most contracts. Cash trade volume did pick up late Friday, with sales coming in at two hundred sixty dollars live and between four hundred eight and four hundred ten dollars dressed in the northern market, though overall sentiment remained cautious heading into the weekend.
That's the tape. Markets Desk, signing off the floor.
