The AI selloff reversed yesterday, Nvidia jumped nearly 9%. ASML this morning announced a set of better-than-expected results that could also help improve sentiment. But the news flow will be intense in the next hours and things could change rapidly.
On the menu du jour, the Federal Reserve (Fed) is expected to announce no change to its rates later today, the Bank of Canada (BoC) is expected to cut its rate by 25bp, the European Central Bank (ECB) will probably do the same when it meets tomorrow. On the earnings front, Meta, Microsoft and Tesla are due to announce their quarterly results after the bell.
Good news is that the DeepSeek shock is probably behind without further damage until investors and the Big Tech leaders get more clarity on if and how DeepSeek managed to create a model *this* cheap. But the bad news is, no matter if DeepSeek’s claims...










