The Dow just ripped higher, closing up triple digits, and it’s not because the economy’s on fire or inflation suddenly vanished. 

It’s because Trump blinked.

The 50% tariff on EU goods that was supposed to go into effect this week has been pushed to July 9. 

That may not sound like a big deal, but to the market, it’s oxygen. 

Traders were bracing for a brutal standoff with Europe that could have triggered a full-blown trade war with one of our biggest economic partners.

So when Trump came out saying the U.S. and EU had made “positive steps” in trade talks, and that he’s delaying the hammer, the Dow took off.

That relief rally is what I call a “headline pop.” 

But the real test comes today.

A Big Earnings Reveal

That’s because Nvidia reports earnings after the bell.

And this isn’t just any earnings report. 

This is the report.

Nvidia is the last of the so-called Magnificent 7 — the mega-cap tech names that have been carrying the market — to show its hand this earnings season. 

Apple, Amazon, Alphabet, Meta, Microsoft, and Tesla are all in the books. 

Some hit, some flopped. 

But none of them carries the same weight that Nvidia does right now.

Because Nvidia is the AI story.

They’re the ones building the GPUs that every company on Earth is throwing money at like it’s the next gold rush. 

The stock has more than doubled in the past year and added hundreds of billions in market cap. 

In fact, it’s added over $1 trillion in just six months.

That’s not normal. And that kind of move comes with one huge string attached:

They better deliver.

Analysts are looking for more than $43 billion in revenue — and that’s just for this quarter.

And it doesn’t even matter if they hit that number.

What really matters is the guidance. 

The market’s going to hang on every word of the outlook. 

Are data center sales still exploding? Are orders from big players like Amazon and Google still accelerating? Are margins holding up?

One crack in the armor, and this stock could give back weeks — maybe months — of gains in a single session.

On the flip side, if CEO Jensen Huang comes out tomorrow night and doubles down on AI demand, expect fireworks. 

This stock has become the new Tesla in terms of crowd energy and momentum trading.

Stay Calm and Focus

So, what do you do as a trader?

You don’t get caught flat-footed.

These are the days you prepare for, not react to.

If you’re an options trader, implied volatility is pumped. 

That means premiums are expensive, and you should keep your risk tight. 

Nvidia doesn’t move 2% on earnings. It moves 10%. 

Sometimes more.

Bottom line: The macro backdrop just eased a bit with Trump’s tariff delay, but tomorrow we find out if the biggest AI trade of the decade still has legs.

Stay street smart,
— Jeff Zananiri

If you really want to trade smarter, join me today at 2 p.m. ET for a live market briefing on the hidden signal behind Nvidia’s $3 trillion breakout.

Aaron Hunziker and I will show you the structural trigger that helped fuel Nvidia’s historic move — and why it’s flashing again right now.

Don’t miss this. Register now.

*Past performance does not indicate future results.