10 Things You Need to Know – NVIDIA IS COMING!
What a week! We just saw:
- The market roll its eyes at the Moody's downgrade of the United States' credit rating
- President Trump throw some huge tariff bombs at the European Union and Apple (AAPL)
- Trump's controversial tax bill pass the house
- A shocking rally in Bitcoin
- Wild ups and down for UnitedHealth (UNH)
- A wild comeback in Alphabet (GOOGL)
- A failed bond auction that turned into a buying opportunity
- Sentiment turn bullish after a huge stock market rally
And a whole lot more!
So let's dig into the 10 Things You Need to Know About Markets Right Now.
1. Next Week Will Be WILD
Just look at this freaking calendar and tell me you're not pumped for next week – because Mr. Market's packing a ton of stuff into 4 days:
We have:
- The long-awaited NVIDIA (NVDA) Q1 earnings report – plus reports from Costco (COST), Salesforce (CRM), Dell (DELL), Marvel (MRVL), Zscaler (ZS), and others
- The FOMC Meeting Minutes
- US GDP
- US PCE Price Index
And a whole lot more economic data!
Plus, we can't forget…
2. President Trump Will Rock the Boat
Friday looked like any other day… until the President dropped these bombs on Truth Social:
Yes, we kicked off the day reading about threats of a 50% tariff on the European Union, and a 25% tariff on Apple (AAPL).
The market got hit hard and fast.
But traders viewed this latest rock of the boat as a buying opportunity.
The bottom was in by 8:12 am:
The market is no longer freaking out at the President's strategy of negotiating hard in public.
And of course, he could announce within hours that everyone's best buddies all over again.
So maybe Apple's (AAPL) up huge on Tuesday? Who knows…
3. NVIDIA Is a Mystery
In April, NVIDIA (NVDA) earnings estimates fell for the first time in years after the company took a $5.5 billion charge because of export restrictions on the H20 AI chip.
Sound bad, right?
Well since then, the President went on a dealmaking rampage in the Middle East with a major emphasis on AI.
NVIDIA CEO Jensen Huang said the company would sell more than 18,000 Blackwell chips to Saudi Arabia's Humain.
Plus, the US is partnering with the United Arab Emirates to build a major AI campus, and NVIDIA is joining the party, according to CNBC.
And the Financial Times reported today that Oracle (ORCL) will drop $40 billion on NVIDIA chips for OpenAI's new US data center.
So could NVIDIA deliver monster guidance on its Wednesday earnings report?
It seems possible.
Speaking of NVIDIA, did you notice that…
4. Mag7 Stocks Are Kicking Butt in May
Just as we started calling the Mag7 the Lag7… they perked up.
Six of the Mag7 are in positive territory for May with an average gain off 11%, beating the QQQ's 7% rally.
And 2 are up more than 20% – NVIDIA and Tim Walz' favorite stock Tesla (TSLA).
Not so bad.
Now, here's a fun Mag7 fact we bet you didn't know…
5. IBM Is Crushing the Mag7 This Year
IBM (IBM) is the #1 stock in the Dow Jones Industrial Average this year with a 19% gain.
So we compared IBM to the Mag7, and it's winning. Big time.
Here are the numbers:
6. Nuclear Stocks Went Nuclear
President Trump signed four executive orders to ease regulations on the nuclear industry, with a focus on increasing US uranium production.
Now, why do we need more nuclear power?
Because AI apps like ChatGPT, Grok, Claude, Perplexity, etc. use shocking amounts of electricity. (pun intended)
That sent uranium stocks through the roof Friday, with the Global X Uranium ETF (URA) surging 12%:
Keep your eye on this sector because uranium might be the next “hot AI trade.”
And outside of uranium, there's been hot action in power-grid names like GE Vernova (GEV), NRG Energy (NRG), and Constellation Energy (CEG).
7. Traders Actually Turned Bullish
The latest AAII sentiment survey shows that 37.7% of investors are bullish.
This is just above the long-term average of 37.5%.
And it's the first above-average bullish reading since January 30.
This is a perfect examples of how sentiment often follows price.
So two scenarios can play out:
1) Traders keep bidding up equities as sentiment goes from “regular bullish “to “super bullish”
2) We see a top or consolidation phase since sentiment has already improved so fast
What do you think?
8. There's Something Funny About MicroStrategy (MSTR)
Look at this chart comparing Bitcoin and MicroStrategy (MSTR):
Bitcoin's been pretty steady-as-she-goes, yet sector leader MicroStrategy is getting slapped with the ugly stock.
Is Bitcoin about to drop?
9. Gold May Resume Its Downtrend
Gold was the talk of the town in 2025 until its peak on April 22.
And as you can see on the chart, it's put in a series of lower highs and lower lows – a classic example of a downtrend.
If we walk into some happy news next week, the downtrend likely resumes.
10. You Need This Rant from JR Romero
Too many traders make things complicated.
Well, JR has just 4 words for you.
And one of them starts with the letter F:
Enjoy your weekend. You earned it.
ATTN: Serious Options Traders
There Is Just ONE Epic Trade Every Week