The physical buildout of the country is a significant story that’s reflected in the strength of Industrial stocks (XLI), which had another intense session yesterday, as Industrials were five of the top ten advancers.

Suddenly, one of the worst starts in history has become the best rebound in history (e.g., the 2020 COVID-19 drawdown).

The good news is that good fortune continues to broaden out. However, even as most factors enjoyed a green day, momentum and growth led the way.

It doesn’t make sense to fight it, as the fundamentals suggest these names will continue to move higher.  It’s the value proposition.

Consumer Confidence came in better than expected, but it is moving in the wrong direction. Yesterday’s results add to the urgency for the Fed to cut rates.

Powering Data Centers

Watching the Uranium stocks glow-up (I couldn’t resist). The nuclear power play is real, and while there will be fits and false starts, we must have exposure to it.

Great News

We achieved a grand slam after the close last night, with results from MongoDB, Inc. (MDB) that sent shares soaring by more than 28.0%.

Today’s Session

It’s quiet on all fronts this morning as we await Nvidia (NVDA) earnings, after the close.

Meanwhile, this market is poised to erupt higher, but for now NVDA sets the tone, it is 8% of the S&P 500 and 3% of the global stock market.  Its customers, as preeminent business names, are driving the market and making it easier for outsized valuations.

The Wall Street revenue consensus has closed the gap over the past eight quarters.

Consequently “beats” are not moving the needle, as they once did. 

That means there will have to be a huge bat and great call – but make no mistake this company isn’t focused on one quarter, but the next several years instead.

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