Nvidia Conference and Fed Actions Could Impact AI Stock Rally
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Nvidia's GTC AI conference could stoke more speculation in AI stocks, but Fed chair Jerome Powell could dampen the rally.
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Powell and the Fed meet this week and may indicate a more hawkish policy outlook given hotter-than-expected inflation reports.
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Markets have already been pricing in fewer rate cuts this year, with Treasury yields rising sharply in recent weeks.
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Major indices are in "overbought" territory currently, leaving them vulnerable to a correction if rate cuts slow.
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Insider selling remains high compared to buying, indicating corporate executives have a cautious market outlook.