According to @StockMKTNewz, Goldman Sachs’ Chief U.S. equity strategist wrote in the latest US Weekly Kickstart that further equity market upside is consistent with the historical pattern around Fed cutting cycles. source: Goldman Sachs US Weekly Kickstart via @StockMKTNewz; Seeking Alpha With long-term interest rates relatively stable, earnings should remain the primary driver of equity upside, and valuations, while elevated versus history, appear close to fair value given the macro and corporate fundamental backdrop. source: Goldman Sachs US Weekly Kickstart via @StockMKTNewz; Seeking Alpha Goldman Sachs adds that an accommodative Fed and an economy accelerating into 2026 should allow the market to maintain its current multiple, leaving earnings growth to drive continued U.S. equity gains. source: Goldman Sachs US Weekly Kickstart via @StockMKTNewz; Seeking Alpha For crypto traders, risk-on equity phases during easing cycles have historically coincided with higher BTC correlation to U.S. stocks, making BTC and ETH sensitive to earnings-led equity rallies. source: IMF (Crypto Prices Move More in Sync With Stocks, 2022); Federal Reserve Bank of New York (The Bitcoin–Equity Market Correlation, 2022) Traders can monitor forward EPS revisions breadth and sector-level earnings momentum as key catalysts if earnings are the main driver. source: Goldman Sachs US Weekly Kickstart via @StockMKTNewz

According to The Kobeissi Letter, Nvidia’s (NVDA) weight in the S&P 500 has reached a record 8.2%, more than doubling since the start of 2024, as its market value hit $4.4 trillion last week, signaling unprecedented single-name concentration at the index level, source: The Kobeissi Letter (X, Aug 16, 2025). Because the S&P 500 is float market-cap weighted, a higher NVDA weight mechanically increases passive index allocation and can amplify NVDA-driven index moves, source: S&P Dow Jones Indices, S&P 500 Index Methodology. For crypto traders, equity risk is a key input: the IMF documented a stronger return correlation between BTC and the S&P 500 during 2020–2022, indicating that large S&P swings led by mega-caps can coincide with BTC and ETH volatility, source: International Monetary Fund, 2022 analysis on crypto–equity co-movements.