The two major US stock indices are trading near the highest ever high, with the third and oldest apart from their own new records. The world’s first $4 trillion company appears to have died at $5 trillion. And it appears that President Donald Trump’s uncertainty about tariffs and global trade is still rampant.
The world’s first cryptocurrency is also reaching its highest ever high. So of course, Jamie Dimon, CEO of JPMorgan Chase (JPM), is forecasting an imminent fate (or at least high interest rates) ahead of the release of inflation data next week in June.
Tuesday’s Consumer Price Index (CPI) data highlights the economic calendar. And Dimon’s JP Morgan Chase is one of the hosts of large stocks and other financial stocks in the first full revenue calendar of the new reporting season.
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As stock market columnist and founder Sam Ro Ro Ro Ro Lord wrote, “Everyone is looking at the second quarter revenue season very carefully, as the three months that end on June 30th were plagued by uncertainty.” Ro cites “large tariff threats” and “immigration crackdowns” as “bad news for most industries.”
At the same time, chartered financial analysts point to solid revenue reports this week from industrial stock Delta Air Lines (DAL) and consumer discretionary stock Levi Strauss (LEVI).
“Economic uncertainty was supposed to curb spending on businesses and consumers. Higher costs were supposed to reach margins. The rising anti-American sentiment seems bad for international travel and American brands,” Ro said.
But both Delta and Levi’s revenues are up. Management of airline and apparel costumes provided year-long guidance that exceeded expectations.
“Is this a trend this revenue season?” ro is strange.
By the time the closing bell on Friday, Nasdaq Composite had dropped by 0.2% at 20,585, the S&P 500 lost 0.3% at 6,259, and the Dow Jones industrial average fell by 0.6% at 44,371.
Nvidia is innovative and widely held
NVIDIA (NVDA) added 0.5% on Friday after crossing the $4 trillion market capitalization threshold earlier this week. AI Stock has extended its run since its first quarter 2026 revenue report was extended to 22.4%.
Susquehanna analyst Christopher Rolland recently repeated a positive (or “buy”) rating of AI stocks and a 12-month target price of $180. Rolland’s price target represents a 9.1% rise from the NVDA’s Friday closing price, slightly above the average of $175.31 across 67 Wall Street analysts covering leaders in the AI revolution.
“AI adoption continues to be an attractive investment theme,” says Daniel Skelly, who leads Morgan Stanley’s wealth management market research and strategy.
Skelly said in early June that Nvidia’s recent revenue report, “It showed that the global thirst for computing power has not been erased and has meaning far beyond the tech sector.” According to Skelly, Financial and Health Care Stocks, increasing adoption of AI will drive energy demand and provide a tailwind for industrial inventory as it “mores further” infrastructure build-out ramps.
Portfolio managers are more tangible in a more specific way.
“I’m proud that Nvidia is my biggest holding in my biggest managed account (Nvidia is up to 16% allocation in some of my portfolios),” writes Louis Navellier of Navellier & Associates.
As explained by Robert Ruggiello, Chief Investment Officer at Brave Eagle Wealth Management, Nvidia is reaching new highs, with revenue and revenue estimates also rising.
Rugirello warns that he does not own Nvidia, although caution is required for NVDA stocks “again there are 30 forward PES.”
Bitcoin is getting bigger too
Bitcoin price surpassed $118,000 for the first time on Friday, the world’s first cryptocurrency and remains the largest by market capitalization, reaching $118,740 for the first time. The best Bitcoin ETF to buy offers efficient exposure to this rapidly expanding asset class.
Some investors, traders and speculators are recognized as a “valuable” alternative to gold, and the recent surge in Bitcoin was driven by growing expectations of interest rate cuts due to the Federal Reserve, ETF inflow and an increasingly favorable regulatory environment in September.
“If legislative momentum remains strong, ETF inflows persist and the Fed directs, Bitcoin is not overstated to retest the $120,000 mark before August.”
