Gold prices hit new all-time highs, IPO market boom, Super Micro climbs on Nvidia shipments

Market Trends & Economic Indicators - US stock futures are pulling back after a record run, with major indices closing at new highs [1] - Investors are awaiting the University of Michigan sentiment index for insights into the American consumer [1] - The Federal Reserve is likely to cut interest rates by a quarter of a percent at the September meeting [2] - Markets are largely baking in the probability of a rate cut, with investors also anticipating three more rate cuts by the end of the year [12][13] - Goldman Sachs highlights potential risks: a recessionary labor market or growth holding up, potentially overpricing Fed rate cuts [16][17] Trade & Tariffs - Mexico is raising tariffs on Chinese-made vehicles to 50%, prompting a threat from China [2][3] - The US may urge G7 allies to impose tariffs as high as 100% on China and India for Russian oil purchases [4] - RH cut its revenue forecast for the full year due to impacts from new US tariffs, now expecting a 9-11% increase, down from 10-13% [30][31] Company Performance & IPOs - Adobe reported strong earnings and guidance, with annual recurring revenue from AI-influenced products topping $5 billion [4][5] - Adobe's investments in AI features are showing signs of paying off, easing investor concerns [28][29] - A wave of IPOs includes Gemini and CLA, with recent IPOs priced above their range [7][21][24] - Super Micro is getting an Nvidia boost after announcing volume shipments of its Nvidia Blackwell Ultra solutions [30] Gold Market - Gold has surpassed its 1980 high in inflationary terms, reaching over $3,600 when adjusted for inflation [18][19] - Central banks are continuing to purchase gold, solidifying its status as a safe haven and inflationary hedge [19]