Things To Watch
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NVIDIA (NVDA) in Las Vegas
NVDA CEO Jensen Huang is scheduled to deliver the keynote address tonight to kick off the 2025 Consumer Electronics Show from The Entertainment Capital of the World. Investors will be focused on any comments from Huang about the sales trajectory of NVDA’s next generation Blackwell chip and the status of the company’s Jetson Thor robotics program. The CEO’s thoughts on the potential timeline for widespread adoption of AI-based consumer applications could also make headlines.
FOMC Minutes
On Wednesday afternoon, minutes from the Federal Open Market Committee’s December 17-18 policy-setting meeting will be released. At the post-meeting press conference Fed Chair Powell described the decision to cut the policy rate by 25 basis points to a range of 4.25%-4.50% as a “tough call.” The minutes should provide a glimpse into policymakers’ views on balancing the risks between full employment (growth) and price stability (inflation). The transcript might also shed some light on how officials think the incoming Trump administration’s policy preferences might affect the economy.
Market Closed Thursday
U.S. stock markets will be closed Thursday in acknowledgement of a National Day of Mourning for former President Jimmy Carter, who passed away at the age of 100 on December 29. The bond market will close at 1pm central time.
December Jobs Picture
On Friday morning, Bureau of Labor Statistics data is expected to show the pace of hiring last month slowed to 153,000 net payroll additions after a gain of 227,000 in November. An upside surprise in the payroll figure could push market expectations for the next Fed rate cut into the second half of 2025. The unemployment rate is projected to hold steady at 4.2%, which would be the fifth straight month of either a 4.1% or 4.2% reading.