Carmen Reinicke

It's not just NVIDIA as much as we're focused on that.

So yes, they're going to need some AI reinvigoration.

I think everybody's also really watching if we're going to get more cuts from the Fed.

That's going to be really important.

And I think that maybe optimism is a little dull for the end of the year.

I've definitely heard people say that they're not expecting a Santa Claus rally, which we'll see.

It would be kind of a sad Christmas without one.

But it might be that just valuations are stretched.

Investors are looking to take some of their profits into the end of the year and then see what 2026 brings.