Equities Stage Partial Recovery With Likelihood of Rally Into Thanksgiving Array ( [cookie] => 173aaf-da1bbc-1f54b9-040222-4df555 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 1 [subscriber] => 0 [role] => fsi_macro [visitor_id] => 568007 [reason] => [method] => ) 1

"Ultimately it is not the stock market nor even the companies themselves that determine an investor's fate. It is the investor." – Peter Lynch

Good evening, 

Stocks recovered partially from a rather unpleasant previous week. It was a light week for macroeconomic data, which arguably resulted in even greater focus on Nvidia's earnings report, released after market close on Wednesday (November 20). Although expectations were high, the chipmaker easily beat both top- and bottom-line estimates. Yet, Nvidia shares moved higher only slightly the next day, but Fundstrat Head of Research Tom Lee nevertheless viewed this as a good sign – both for the company and for markets in general. 

Lee interpreted Nvidia's report positively, noting that the company's outlook "reinforces our view that the AI demand story remains intact. In this context, Nvidia trading up slightly post-earnings suggests there is still more upside for Nvidia’s share price near term." Perhaps just as importantly, "the release of the earnings is likely to clear some of the uncertainty that has been acting as a headwind for markets as a whole."