Nvidia(US:NVDA) Benzinga·2025-09-17 15:52Market Overview - The stock market continues to reach new highs, but is currently overbought, indicating susceptibility to a pullback [10] - Money flows in early trade show positive trends for Microsoft Corp (MSFT), neutral for Apple Inc (AAPL), Amazon.com, Inc. (AMZN), and Alphabet Inc Class C (GOOG), while negative for Meta Platforms Inc (META), Nvidia (NVDA), and Tesla Inc (TSLA) [7][8] Economic Indicators - Housing starts came in at 1.307 million, below the consensus of 1.375 million, while building permits were at 1.312 million versus a consensus of 1.370 million [10] - Consumer Price Index (CPI) showed a month-over-month increase of 0.1%, below the expected 0.2%, and a year-over-year increase of 2.0%, slightly below the 2.1% consensus [10] China-U.S. Relations - China is increasing pressure on the U.S. by using semiconductors as leverage, with a ban on Chinese companies purchasing NVIDIA chips [6][10] - The ban is perceived as a move to reduce reliance on U.S. technology, raising questions about investor sentiment regarding the narrative of it being a negotiating tactic [10] Federal Reserve Outlook - The Federal Open Market Committee (FOMC) rate decision is anticipated, with a consensus expectation of a 25 basis points cut, though a 50 basis points cut is also a possibility due to political pressure [10] - The market reaction to the Fed's decision could lead to either a 'melt up' or a 'sell the news' scenario, with differing narratives among investors [10] Commodity Market - API crude inventories reported a draw of 3.42 million barrels, exceeding the consensus draw of 1.6 million barrels [11]