Johnson: The Fed has pivoted from inflation to focusing on jobs

Group 1 - Chinese internet regulator advises companies against purchasing Nvidia due to its market dominance, potentially impacting Nvidia's stock performance [1] - Nvidia shares are currently trading around $173.50, reflecting a slight decline of approximately 0.75% [3] - A significant technical level for Nvidia is identified at $155, with a breakdown below this level indicating a more serious decline [2] Group 2 - The Federal Reserve is expected to announce a 25 basis point rate cut, with a 96% probability according to CME traders, while a 50 basis point cut is considered unlikely [4][6] - The Fed's recent focus has shifted from inflation to job growth, indicating a broader economic strategy [5] - Market reactions will depend heavily on the commentary from Fed Chair Powell following the rate decision, with potential disappointment if no further cuts are indicated [6][7] Group 3 - Cyclical sectors such as industrials, materials, and financials have underperformed despite expectations of a rate cut, suggesting a complex market dynamic [8] - The financial sector may benefit from a steepening yield curve, which is anticipated with the upcoming rate cut [9] - There is a belief that mid and small-cap stocks will perform well in the wake of Fed rate cuts, with opportunities identified outside of the major tech stocks [11][12] Group 4 - The addition of companies focused on manufacturing to investment portfolios is seen as a bet on increased capital expenditures driven by potential policy changes [10] - The industrial sector is showing signs of improvement, with expectations for a broader market rally beyond just the major tech companies [12][13]