Nvidia Hits $4 Trillion (Again) While Everyone Else Watches
Let’s be real—in terms of tech, this whole rally is basically just Nvidia while everyone watches. The AI darling kissed that mind-melting $4 trillion market cap again, dragging Microsoft, Meta, and Amazon along for the ride.
Compare that to Amazon (AMZN), and this is during the big Amazon Prime shopping period.
Even Tesla finally decided to show up to the party with a weekly pop.
Airlines Actually Did Something Right
Airlines helped boost the market yesterday. Delta reported earnings that didn’t make investors want to throw their phones, shooting up 12%. United followed with a 14% moon shot.
Other stocks are finally pulling their weight instead of letting the AI folks do all the heavy lifting.
The equal-weight S&P actually outperformed this week, which is good to show expanding market breadth, but let’s not get carried away.
Next Week: The Reality Check Arrives
Time to get ready for some big economic news next week:
📊 CPI Report – July 15th Wall Street’s desperately hoping for an inflation print that doesn’t make Jerome Powell sweat through his suit. A hot number could crash this whole feel-good party faster than you can say “rate hike.”
🏛️ Bank Earnings Kick Off Friday: JPMorgan, Wells Fargo, and Citigroup are up first. Banks are expected to be ok, but the real question is whether the data shows anyone wants to borrow money in this economy.
🌐 Tariff Drama Continues: The eternal “will they, won’t they” saga with trade negotiations. One tweet from the wrong person could send this whole thing sideways.
Bottom Line: Enjoy the Ride, But Keep Your Helmet On
Look, the S&P 500 is still trending up, and buyers are still showing up to work. But this market is starting to feel like a really good night out that’s gone on a little too long—everyone’s having fun, but somebody’s about to make a bad decision.
The technical setup is still bullish, but the warning signs are flashing yellow. One bad inflation print, one disappointing earnings report, one geopolitical hiccup, and this whole “markets only go up” narrative gets a reality check.
Watch 6,220. Watch the CPI. And don’t sleep on those bank earnings.
Because in this market, the only thing more dangerous than missing the rally is assuming it’ll last forever.
