“This M’fer don’t miss… a chance to disappoint.”

You know that one friend or relative that no matter what you do just can’t let you have nice things? Like you could win the $1 billion powerball and Uncle Leroy will say “yeah, but it’s really not that great of a deal, you have to pay half of it in taxes.” That’s Jerome “partypooper” Powell… a man so allergic to joy he could ruin a gender reveal party. (“Seriously? Another girl?”) 

Immediately after announcing he and his buddies were snipping rates by another quarter point (the second cut this year) the man had grown men on their knees in disgust. Everyone had just cracked open their favorite whiskey, stuffed in a fresh Zyn, and was halfway through a fist bump when Powell stepped up to the mic and dealt heavy emotional damage.

Then, with the emotional range of a Mark Zuckerberg, he said the December cut “isn’t a foregone conclusion.” Translation: you really fell for the rumors, didn’t you… you stupid peasants.

Even though he actually cut rates, the uncertainty led to the S&P 500 falling 0.5%, the Dow retreating 0.3%, and the Nasdaq giving up 0.2%... a tiny comedown after hitting fresh all-time highs earlier in the day.

Oh, and get this… the vote wasn’t even unanimous. Fed Governor Stephen Miran wanted a bigger 50 bps cut, while Kansas City’s Jeff Schmid thought the Fed should chill and hold steady. So yeah, no one agrees… not even the people doing the cutting. Powell summed it up perfectly: “Policy is not on a preset course.” (In other words: “we’re winging it.”) Live look at Fed HQ right now: 

While Powell was out here breaking hearts, Nvidia was breaking records. Jensen’s chipmaker jumped after President Trump hinted he might loosen the export curbs that have been choking its China sales.

He even said he plans to bring up Nvidia’s Blackwell AI processors when he meets President Xi on Thursday (as if he even knows what that is).

The rally pushed Nvidia past a $5 trillion valuation, the first company in history to hit that number. (Sorry, Tim Apple… the new fruit of Wall Street’s eye is Jensen flavored.) POV: You’re Jensen Huang…

But the rest of the Magnificent Seven will get their turn in the spotlight soon, with a massive earnings slate ahead… Alphabet, Meta, and Microsoft report after the bell, while Apple and Amazon take the stage tomorrow.

And for all you Stock Prophet Watchlist legends… after a slow start yesterday, we had two heavy hitters come through this morning. PPBT ripped from $1.08 to $1.41 for a clean 31% move, and ERNA absolutely detonated from $2.02 to $2.86 for a 41% winner.

Now that Powell’s handed us another rate cut, don’t be surprised if tomorrow brings even bigger fireworks.

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

At the time of publishing this article, Stocks.News holds positions in Nvidia, Apple, Alphabet, Meta, Microsoft, and Amazon as mentioned in the article.