TMTB Morning Wrap

Good morning. Futures flat early. BTC -1.4%. Asia saw mixed price action overnight with Korea that standout as it continues to rip: TPX +0.97%, NKY +0.29%, Hang Seng -1.44%, HSCEI -2.44%, SHCOMP -0.01%, Shenzhen +0.33%, Taiwan TAIEX flat, Korea KOSPI +3.67%. Memory names ripped: Samsung +8% (MS note yesterday); Hynix +8% (SNDK HBF partnership).

Yields are flat across the curve. Fed expects still pencil in 7/29 for the next cut.

We’ll hit earnings first (NVDA, SNOW, CRM, PSTG, NTNX, TTD), then move onto the usual.

Let’s get to it…

---

NVDA +1%: Very solid beat-and-raise, with Blackwell-led DC strength and an April-quarter outlook above buyside bogeys and demand visibility stretching into ‘27. GMs inline.