Sets up discussion on oil markets setting the tone for the day.
Diane
Kevin Green
Oil is moving to the upside due to strikes on UAE port and gas fields, targeting refining/production infrastructure. Notes a disconnect yesterday as tanker rates rose 25% while WTI/Brent pulled back ~5%.
Kevin Green
Yesterday's S&P 500 move was a technical bounce/short-covering rally off the 200-day MA, with tech and consumer discretionary leading. Market is testing resistance at ~6775 (E-mini futures); needs to break above to target next resistance.
Asks about Trump delaying meeting with Xi Jinping and whether it adds uncertainty or buys time.
Diane
Kevin Green
Delay is likely due to Middle East conflict and travel risk, not necessarily China's non-participation in Strait of Hormuz. Reaction seen in grain markets (soybeans limit down).
Asks for takeaways from Nvidia's GTC conference and if it's a catalyst.
Diane
Kevin Green
Market initially misinterpreted Jensen Huang's $1T cumulative AI chip sales through 2027 comment (not in 2027). Nvidia expanding into CPU market, creating competition for Intel/IBM.
Kevin Green
Views GTC as more of a catalyst for smaller partnership stocks than for Nvidia itself. $1T figure is on par with analyst expectations.
Asks about Nvidia-Uber robotaxi partnership and what it says about AI cycle.
Diane
Kevin Green
Nvidia partnering with Uber for robotaxis, rolling out in phases starting LA/SF in H1 2027, expanding to 28 cities by 2028. Challenges Waymo/Alphabet/Tesla.
Asks about Dan Ives' comment on Nvidia not ceding share to Google/Meta.
Diane
Kevin Green
Agrees with Ives. Companies will specialize in their niches (Meta/Alphabet in theirs, Nvidia in execution in other industries).
Asks for upside/downside levels for S&P 500 today.
Diane
Kevin Green
Upside: 6750; Downside: 6600 based on recent flows. Volatility at ~23.3 implying ~1.45% move. Notes oil moving lower; if gains hold, positive; 200-day MA key buying point.