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Markets seem unfazed by the disappointing U.S. GDP results and the Supreme Court’s decision to reverse President Trump’s tariffs. Currently, the S&P 500 has increased by 0.51%, translating to 35 points. The SPDR S&P 500 ETF (SPY) climbed 0.52%, or $3.60. The Dow Jones Industrial Average is up 0.23% (112 points), and the Nasdaq has risen 0.86% (202 points).
“The Supreme Court’s decision was largely anticipated by Wall Street, leading to a somewhat muted market reaction,” one source noted. Economists are also suggesting that the White House might find alternative ways to reimpose many of those tariffs.
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This morning, Citigroup reaffirmed their Buy rating for Microsoft, urging investors to seize opportunities as his stock value is at an almost decade low. “We continue to support buying and observe that the stock’s valuation is significantly lower than the S&P 500 averages, similar to conditions only briefly seen in 2022,” they stated.
Goldman Sachs also maintained its Buy rating on Broadcom, expressing optimism about the firm, especially with its upcoming earnings report next week.
Meanwhile, Morgan Stanley kept its Equal Weight rating on Coreweave, indicating a cautious stance ahead of its earnings announcement. While CoreWeave has secured major contracts from demanding GenAI users, addressing concerns about the management’s capability to deliver will require resolving previous delays and establishing a clear plan for future expansions.
Well, the market has dipped back into negative territory.
The S&P 500 index has decreased by 0.27%, or 18 points, while SPDR S&P 500 ETF (SPY) has fallen by 0.22%, roughly $1.54.
The Dow Jones Industrial Average has seen a decline of 0.18%, down 89 points, and the Nasdaq dropped by 0.39%, or 96 points. Oil prices have slightly decreased amid fears of a potential attack on Iran. In the crypto space, Bitcoin rose modestly to $67,924 while gold prices saw a bounce back, increasing by $66 to reach $5,044. Silver is up to $80.76.
US GDP missed estimates
In case it wasn’t clear, the U.S. GDP growth was recorded at 1.4%, which came in below expectations. Analysts had predicted a 2.5% growth, partly impacted by the government shutdown. For the entirety of 2025, U.S. GDP growth was 2.2%, slowing down from 2.4% from the previous year.
“The government shutdown dampened growth towards the end of 2025, and while recovery is anticipated in early 2026, such shutdowns aren’t without consequences,” commented Heather Long, chief economist at Navy Federal Credit Union. “Despite facing various challenges, the U.S. economy displayed resilience in 2025, with strong consumer spending and the AI boom driving growth.”
$10,000 in gold?
According to analysts at SAMCO Securities, gold prices might surge to $7,000 driven by geopolitical uncertainty, growing fiscal deficits, heightened central bank demand, and the real interest rate climate, as highlighted by Business Standard.
Furthermore, SBG Securities pointed out, as stated by Investing.com, that some market players are eyeing $10,000 for gold, prompted by monetary policies, geopolitical tensions, and a weakening U.S. dollar. They mentioned that gold prices will significantly hinge on potential interest rate cuts. While the forecast is leaning towards two rate cuts this year, further reductions could elevate gold prices to $10,000.
Ed Yardeni from Yardeni Research also argued that the market is showcasing a broad “geopolitical risk-on trend,” which could push gold to new heights, forecasting $6,000 by the end of this year and eyeing $10,000 by 2029.
Nvidia’s earnings forecast for next week
Nvidia is definitely a company to watch as it gears up for its earnings report next week.
Citi analysts reiterated their buy recommendation for the tech leader, suggesting that it’s a good time for investors to make a move considering its appealing valuation, with projections that the stock will excel in the latter half of 2026.
This optimism stems from Nvidia’s established position as a leader in AI, making it a barometer for the industry’s performance. Notably, major tech firms running data centers have ramped up investments in AI this year, and CEO Jensen Huang indicated that the demand for their new Blackwell platform surprised many.
Additionally, Wedbush analysts remarked that as we look ahead to the rest of 2026 and into 2027, there’s keen interest in Nvidia’s next significant step, the Rubin (R100) architecture.
