Investors ignore Nvidia as an across-the-board global rally in stocks gets underway

Group 1 - Nvidia stock experienced a decline of 2.59% yesterday and is down 7% for the month, with an additional drop of 1.34% overnight due to news of Meta considering using Google's chips for its AI models [1] - Despite Nvidia's struggles, a global rally in stocks is occurring, with S&P 500 futures up 0.29% premarket and the Nasdaq Composite up 0.58% yesterday [2] - The S&P 500 has seen a three-day advance of 3.47%, the strongest since the U.S.-China tariff reduction in May, with the index less than 2% from its all-time high [3] Group 2 - Companies in the S&P 500 are performing well, with 95% reporting Q3 results showing EPS growth tracking over 13%, surpassing the 7.4% consensus forecast, and revenue growth of 8.4% [3] - In the private markets, 68% of tracked companies grew revenue over the past 12 months, with an average revenue increase of 6.5% and Ebitda up 5.4% [3] - The VIX "fear" index has declined by 23.08% over the past five days, indicating reduced investor fear regarding an AI bubble affecting market momentum [4] Group 3 - JPMorgan has set a new target for the S&P 500 at 7,500 by the end of 2026, projecting above-trend earnings growth of 13% to 15% for the next two years [4] - There is an 84% probability that the U.S. Federal Reserve will cut interest rates in December, which would provide a new round of cheaper money [5]