"Cautiously Higher:" Markets Signal Bullish Moves, NVDA Investing in xAI

Market Overview - The market opened cautiously higher after a slight decline the previous day, with mortgage applications data showing a softer trend [2] - The dollar is slightly up, while the Japanese yen has seen a significant sell-off, down about 0.5% [3] - Gold prices have increased by 51% over the last 12 months, indicating a strong upward trend despite being considered oversold [3] Earnings Season - Upcoming earnings reports from Delta Airlines and PepsiCo are anticipated, with expectations of strong performance due to a robust US economy and consumer [11][12] - The banking sector is expected to report strong numbers, benefiting from a steepening yield curve and a healthy consumer environment [12][13] Company Insights - Jensen Wong's interview highlighted his interest in companies associated with Elon Musk, particularly X AI, and mentioned a potential investment of up to $2 billion [4][6] - Nvidia's stock is showing slight pre-market gains, reflecting positive market sentiment following Wong's comments [9] - Freeport-McMoRan is heavily involved in copper and industrial metals, which are expected to benefit from a potential recovery in the housing market [16][17] Sector Trends - There is a shift in focus from gold to industrial metals, with analysts suggesting a bullish outlook on copper, lithium, and aluminum [15] - The performance of industrial metals is closely tied to the trends in the housing market, indicating potential growth opportunities for companies like Freeport-McMoRan [16][17]