MacroEdge 2/23 Weekly Macro Note: Nvidia's Week, MacroEdge Vision Note, The Week Ahead & Behind

In this 2/23 Weekly Macro Note - the team explores what occurred last week, the busy week ahead this week with Nvidia earnings, PCE, and more, and the Vision team provides an update.

Nvidia's Week (@DonMiami3, MacroEdge Chief Economist)

Good Sunday Evening MacroEdge Readers & Community, 

This evening given our more extensive discussion on Friday evening - I’ll have a shorter update and let John and Six give their thoughts on the markets & much more. This week is a rather light week on the data side of things - from a macro point of view - with the below events this week: 

> Richmond Fed data - Wednesday 

> Claims data - Thursday 

> Home Sales Data / Home Price Data - Thursday 

> PCE data - Friday, the Fed’s favorite inflation measure 

Outside of this, we have Nvidia reporting on Wednesday, which is the most significant event of the week. PCE price pressures on Friday are unlikely to show us much of what we don’t already know about inflation.

Overall, there’s been a variety of pressures putting equities into a range, and we discussed many of them on Friday evening - one we didn’t get to that falls under our ‘Trump Risk Matrix’ is the stronger yen. With Japanese CPI > US CPI and the Bank of Japan seeing a need to continue raising rates this year, the strengthening of the yen has again caught the spotlight for putting pressure on US equity markets. While there are other ‘under the surface’ issues in Japan.

Let’s dive into the data below: