Nvidia's Blowout Earnings Save the Day, But Warsh's Hawkish Turn Threatens Rally

Nvidia's 8.7% surge powered the Nasdaq to a 1.6% gain, adding 411 points to 26,541 and lifting the S&P 500 by 0.7% to 7,730. The AI chipmaker's quarterly results—earnings and revenue more than doubled year-over-year—were called "the most impressive earnings in history." More importantly, management offered a rare long-range forecast, guiding for 70% revenue growth in fiscal 2028, directly addressing Wall Street's fear that AI infrastructure spending was peaking. The...