A lot of hope was riding on Nvidia Corporation’s (NASDAQ:NVDA) quarterly report last night, and reaction to those numbers shows why this earnings season is winding down with more of a whimper than a bang.
Before President Donald Trump promised “fire and fury”, companies reporting earnings where moving along bullishly along with the general markets. With 91% of companies in the S&P 500 having laid bare their financial results, nearly three-fourths surprised to the upside on profits, while 69% showed better-than-expected sales.
Now that nuclear winter is on the table, reality is hitting investors. Valuations are stretched so thin it takes beyond perfection to attract anyone but profit-takers.
With a few key names left on the calendar, however, there’s still a chance to turn this trend around.