TMTB: Late Afternoon Wrap

Good afternoon - getting this one out a bit early as we got a busy post-close with NVDA and SNOW. QQQs are selling off a bit before the NVDA print post-FOMC minutes. The one sentence receiving the most attention: “Various participants mentioned a willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate.” Likely just some risk off ahead of NVDA.

Factor-wise, TMT momentum taking it on the chin today while non-profitable tech outperforming a bit. Let’s get to it.