As the US stock market gained momentum again,

As the US stock market gained momentum again, it created a strong recovery. As the AI momentum was dampened, we decided that a considerable level of catalyst was needed to revive it.

Should I call it a do-or-die? Yesterday, Nvidia CEO Jensen Huang's comments at Goldman Sachs' conference that AI demand remains very strong are lifting the market.

CEO Jensen Huang said demand for Blackwell was so strong that customers were competing with each other, suggesting that demand was overheating as some customers said they responded emotionally.

After Nvidia's second-quarter results, the market saw too high expectations for AI demand, and Jensen Huang's comments fueled these expectations again.

Yesterday's strong rally was actually against this backdrop. Again today, the market was led by Big Tech, led by Nvidia. Large caps and growth stocks, including Big Tech, led the market, with most companies showing strength.

The lack of special changes in unemployment benefits and producer price indices announced today also kept expectations of a "soft landing" afloat.

Although unemployment benefits, the fastest indicator of the job market, were raised again and rose to the highest level in three weeks, it is difficult to say that the job market is slowing down smoothly as it is a big change in trend.

The S&P 500 is now riding above the 20-day horizon for the second straight day, raising the possibility of a temporary pullback in early September's decline.

I would like to apologize to those who lost money when I presented a short opinion last week. However, there is a possibility that market volatility will resurface depending on what prospects the Fed presents at next week's FOMC.

With the economy remaining stable and inflation growing in core prices, it is questionable whether the Fed will be able to give a path to cut interest rates in line with market expectations. The presidential election will also need to keep a closer eye on the situation, given that there is still a lot of uncertainty.