"Yeah, my portfolio is basically just one stock and a prayer." - a well-diversified investor (26, male, "fin-bro"), probably.

The market doesn’t give two sh*ts who Trump fires at the Fed… not today, at least. Stocks finished higher Tuesday, brushing past the President’s letter to Lisa Cook that basically said “kicks rocks” and instead focusing on the only thing that matters anymore: Nvidia earnings.

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In short, the S&P 500 closed up +0.41% at 6,465.94, the Nasdaq added +0.4%, and the Dow climbed 135 points. A green day, even with Trump promising tariffs, chip export restrictions, and the kind of Fed “majority” that sounds less like monetary policy and more like coup. But again, who cares about any of that when Nvidia reports after the bell one Wednesday, and traders are acting like it’s the only stock left on earth.

Case in point: The “Magnificent Seven” caught a bounce Friday, but that was after five straight days of getting curb-stomped. The AI chipmaker is still carrying the sector on its back (ticking up +1%), even as skeptics ask whether this whole trade has gotten too fat for its own good. As for the others, Microsoft and Alphabet slipped -0.43% and -0.58%, respectively. Apple, Tesla, and Broadcom all rose +0.95%, +1.46%, and +1.28%. Meanwhile, Amazon and Meta barely moved on the day. Translation: Everyone’s just waiting for Obi-Huang Kenobi to use the force to set the tone for next quarter.

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Elsewhere, Trump doubled down Tuesday, bragging he’ll have a Fed majority “very shortly” after axing Lisa Cook. Legally messy? Sure. Market-moving? Not really. The S&P shrugged and went higher. Investors want lower rates in September, and Powell already teased that at Jackson Hole. Whether Trump stacks the Fed board with loyalists or not, the street’s betting that cutting rates is a done deal. 

Tariffs, though, are another story. The President is promising “substantial” new levies plus export bans on chips going to countries that don’t ditch digital taxes. That hits at the exact moment U.S. semis are priced like immortals. Of course, traders aren’t panicking yet… but it’s definitely a fuse worth watching.

As for individual cards, Eli Lilly ripped nearly +6% after a study gave more hope for its weight-loss pill. Novo Nordisk slid. Translation: Pharma is now a cage fight over who gets to monetize your fat cells. Additionally, Semtech popped +15% on better-than-expected earnings and caught a sympathy bid in Nvidia’s shadow. But the surprise story of the day was that Cracker Barrel stopped sucking and clawed back +6.4% after its logo disaster. Hell, even Trump weighed in, demanding the chain bring back the old man and the barrel.

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However, Paramount Skydance shat the bed -4% (before regaining 3%) after a hot run in August, and Bitcoin slipped to $110,700, breaking below $110K intraday. Keep in mind, less than two weeks ago it was printing all-time highs. Now it’s reminding everyone what volatility feels like.

In the end, Trump didn’t steal any headlines or cause much havoc today… presumably because everyone is doing their “Hail Mary’s” for a good report from Nvidia (and whether Powell blinks in September). Meaning, as of right now the whole game is two things and two things only: one stock and one rate cut. The end. Until next time, friends… 

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, Stocks.News holds positions in Apple, Tesla, Alphabet, Microsoft, Meta, and Amazon as mentioned in the article.