Nvidia's board has opened an investigation into Jensen Huang over reports linking him to an alleged Chinese intelligence effort. The stock is down about 5% before the open, at its lowest valuation in five years.
Last week's sell-off centred on the AI buildout. With the S&P 500 below its 10-year average forward P/E, I see the index as a dip to buy. Chips and software need more time to repair.
Tuesday's CPI is the next test. The 2025 government shutdown stopped the BLS from publishing an October 2025 index, so this release carries no annual rate. The monthly core figure decides whether the 80% December hike pricing holds.
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DISCLAIMER: This newsletter is intended for educational purposes only. Any information or analysis in this note does not constitute an offer to sell or a solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice, nor should it be relied upon to make investment decisions. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice.
