The economic data continues to support a soft landing scenario, where the economy slows, but doesn't head into a tailspin.
Let's front-run the recession. That seems to be the attitude of some investors at the start of September. Never mind the economic data does not support such doom and gloom. It's certainly not in the August nonfarm payrolls , which came in at 142,000, slightly below expectations of 162,000 but better than Citi's much lower estimate of 125,000 released Tuesday. There were downward revisions in June and July. The unemployment rate came in at 4.2%, in line with expectations.
mountain Nvidia shares year to date I have emphasized for two weeks that the key to Nvidia is that investors are taking down the multiple on Nvida, not the earnings. The forward multiple for Nvidia's current fiscal year is now at 37.9 — well below the 48 multiple in June. The forward multiple for Nvidia's next fiscal year is 26.5 — well below the 36 multiple in June.
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