Nvidia earnings and potential Fed cut: Portfolio manager discusses

Stocks (^DJI, ^IXIC, ^GSPC) closed in positive territory on Thursday as markets digested better-than-expected retail sales and jobless claims data. PIMCO Portfolio Manager Erin Browne joins Market Domination Overtime to share her insights on market trends and Federal Reserve rate cut outlooks.
Browne notes that markets have “stabilized” in the “very short-term.” She points to a series of economic indicators topping expectations, “all suggestive of the fact that the economy is growing but slowing and that the Fed is on pace to cut rates starting in September.” She forecasts three rate cuts in 2024 and four in 2025, though she cautions about increased market volatility as the US presidential election approaches.
Regarding the Federal Reserve’s stance, Browne told Yahoo Finance, “I think you’ll likely see the Fed affirm that they’re on track to start cutting at a reasonable pace that’s data-dependent. I think what the question mark is going to be is how that extends into 2025.”
In light of this market uncertainty, Browne advises investors to focus on infrastructure buildout and semiconductor plays within the AI sector. She predicts, “I think you’re gonna continue to see earnings be revised upwards as we head into, particularly into 2025.”
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