CNBC's "Fast Money" Nvidia’s Post Earnings Blues… And JPMorgan CEO Jamie Dimon’s Bond Market Warning 5/30/25
May 30, 2025
David Zervos, CNBC contributor and Jefferies' chief market strategist, shares his insights on the shifting dynamics of the bond market and the recent struggles faced by Nvidia after its earnings report. He discusses U.S.-China trade tensions affecting tech stocks and compares Nvidia's performance against competitors like AMD and Google. Zervos also addresses alarm bells from Jamie Dimon regarding bond market stability, while offering a cautious but optimistic perspective on the market's resilience amidst geopolitical challenges.
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Nvidia Faces Market Fatigue
- Nvidia's stock pullback after a strong earnings report reflects market fatigue and trade tension worries.
- Despite China's importance to Nvidia's AI business, demand remains strong and supply improved in H2, signaling no structural issues.
Germany's Big Digital Tax Move
- Germany proposes a 10% digital services tax on revenue, much higher than other countries.
- This reflects ongoing friction with U.S. tech giants and could lead to further tax hikes across Europe.
Ulta's Earnings Confidence
- Ulta's strong earnings and raised guidance show confident consumer spending despite tariff uncertainty.
- New product launches and lower inventory losses helped Ulta gain market share and improve margins.