Good evening and welcome to Markets Desk, your closing read on the stories moving money tonight.
Meta shares are back in focus after the stock slipped below six hundred dollars ahead of Wednesday's earnings report, sitting roughly twenty-five percent off its fifty-two week high and trading at approximately twenty-two times forward earnings. That valuation reset has some investors reconsidering the entry point, with the report now serving as a critical reset moment for sentiment across big tech.
Turning to the Fed, markets are recalibrating rate expectations after June inflation data showed meaningful moderation, though the fine print matters here. Nearly all of that softness came from falling energy prices, not broad disinflation, which means the underlying price picture remains sticky enough to keep the Fed on hold and rule out cuts in the near term.
And in the semiconductor space, Nvidia chief Jensen Huang has confirmed that Vera Rubin chips are already in production, pushing back directly against a SemiAnalysis report suggesting the platform faced delays. That confirmation carries real weight for AI infrastructure spending timelines and reinforces Nvidia's position at the center of the next hardware cycle.
That's the tape. Markets Desk, signing off the floor.
