We have been staring at the exact same inflation ghost for over 5 years now. Wall Street has already priced in a higher for longer narrative. With the new Fed Chair Kevin Warsh getting rid of the dot plot forward guidance, his silence has the market jumping at its own shadow.
But sticky inflation isn't a surprise anymore. It is just an annoying background noise of the 2020s.
The good news is that $NVIDIA(NVDA)$ blowout earnings brings much cheer to investors. It is not every day you get a company scaling to USD 108 billion in quarterly guidance.
Earnings power is the ultimate gravity of the stock market. When computing tokens translate directly into record breaking balance sheet, it creates a shield that sticky inflation can't pierce.
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