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5h ago

Markets Look to Nvidia as Trump’s Move Against Fed Governor Jolts Bonds

Attention turns to Nvidia’s results later today, which options markets suggest could sway risk sentiment.

Trader Michael Milano left, works on the floor of the New York Stock Exchange, Monday, Aug. 18, 2025. (AP Photo/Richard Drew)
This photo, taken Aug. 27, 2025, shows the dealing room of Hana Bank in Seoul. (Yonhap)
A screen shows stock prices on the floor of the New York Stock Exchange, Friday, Aug. 1, 2025, in New York. (AP Photo/Yuki Iwamura)
The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. REUTERS/Tyrone Siu/File Photo

Overview

  • President Trump posted a letter purporting to remove Fed Governor Lisa Cook, a step her lawyer says will be challenged in court, and the Fed said it will follow any court decision.
  • U.S. Treasuries steepened with two-year yields falling to their lowest since May while traders lifted the probability of a September rate cut to roughly the mid‑80% range.
  • Major U.S. equity indexes closed modestly higher Tuesday, with the S&P 500 up 0.4%, the Dow up 0.3%, and the Nasdaq up 0.4%.
  • Nvidia reports after the close, with options pricing about a $260 billion move in market value and investors focused on AI demand and the company’s China exposure.
  • Keurig Dr Pepper’s roughly $18 billion deal for JDE Peet’s and planned split sent its shares lower and drew a negative credit outlook, while Eli Lilly rose after its oral weight-loss drug met Phase 3 goals.