Nvidia Approaching a Key Price Level and Market Outlook for Micron
Stocks rose on Wednesday following an unexpectedly cooler August inflation report, which led to lower Treasury yields. The personal consumption expenditures price index increased by 3.4% year-over-year, down from July's 3.7%, while core inflation also came in below expectations. Jim Cramer noted that depressed bond prices are becoming more attractive as further yield declines may follow if economic data continue to soften. Nvidia is nearing its May all-time high of $236.54 and has gained 15% over the past three months, outperforming other AI-related stocks. A breakout above this level could attract new buyers; a failure might raise concerns about the stock's strength. CoreWeave announced plans to use Nvidia’s Vera Rubin platform in its data centers. Micron is up ahead of its earnings report due to strong demand for memory driven by AI, which continues to outpace supply. Investors are watching how long this favorable cycle will last and looking for updates on customer agreements and production timelines at Micron's Boise facility.
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