Gitlab soars, Nvidia stalls — inflation keeps Fed guessing

THE PORTFOLIO

THIS WEEK’S UPDATE

Final bell verdict just came in and our portfolio is shining at $65,808, up $1,401.53 (+2.18%) this week—just in time for weekend bragging rights. The S&P 500, meanwhile, slipped 0.29%, proof that not everyone enjoyed the party. Our portfolio’s hero? Gitlab Inc, sprinting ahead. Who limped into the weekend? Nvidia barely dipped. Think of us as the Financial Oscars: Gitlab took home the trophy, while NVDA left the stage quietly. (Fun fact: even my houseplants are more dramatic.)

As always, you can see the entire portfolio at investogy.com/stocks/.

Winner — GTLB (+$386; +14.06%)

GitLab popped 14.06% this week after Cantor Fitzgerald reiterated its Overweight rating with a $60 price target on August 12 and BofA held firm on a Buy with a $72 target—citing growing traction in their Agent Platform and AI strategy. When analysts double down on AI chops, growth software charts respond—GitLab just RSVP’d with a breakout.

Loser — NVDA (-$92.25; -0.88%)

Nvidia barely budged (a tiny red week), as traders paused amid uncertainty. Early in the week, renewed tariff extensions and a shady trade environment added pressure—remember the extended U.S.-China tariff truce? That left mega-caps like NVDA under a microscope. All told, nothing's broken on the AI hype front—but everyone’s reminding us: leadership can rotate, fast.

STORY OF THE WEEK

COOLER INFLATION?

Inflation’s Smooth Moves
This week, markets danced to inflation’s beat—and it was more salsa than samba. The CPI glided in softer than expected, Fed rate-cut hopes grabbed the spotlight, and the S&P and Nasdaq hit all-time highs (yes, again). Think less “market panic” and more “ballroom elegance,” with investors happy to follow the lead.

What Triggered It — Cooler CPI, Hotter Cut Odds
July’s CPI came in at 2.7% year-over-year, just below forecasts, with core inflation surprisingly tame at 3.1%. That was enough to flood futures markets with September cut bets—CME now pegs a ~92% chance of a 25-basis-point move. Equities surged, volatility collapsed, and yields slid.

Why It Matters — The Easing Encore
Lower rates could extend the growth party—think tech, long-duration themes, and gold getting its shine back. Banks popped too, thanks to a steeper yield curve boosting their spread mojo. Of course, lingering worries about tariffs and headline core inflation mean this could be a “rate cuts-lite” situation—but hey, we’ll take it.

QUICK HITS

MARKET NOTES

1. Perplexity AI’s moonshot: The AI upstart reportedly offered Alphabet a whopping $34.5B for Chrome—a blockbuster proposal that made tongues wag and tech stocks tingle.

2. Tariff twist: A 90-day extension on U.S.–China tariffs briefly spooked markets early in the week.

3. Dow Gets a Checkup: The Dow briefly hit a record Friday after UnitedHealth jumped on news that Berkshire Hathaway boosted its stake. Mixed economic data kept traders guessing on the Fed’s next move.

4. Gold gleams: With the dollar easing and real yields falling, bullion caught a bid as recession fears softened. Fed talk + gold go hand in hand.

5. Oil drifts: Sluggish supply signals from the IEA left crude prices subdued, helping tame headline inflation math.

6. CoreWeave wobble: AI infrastructure provider CoreWeave lost ground, blamed on bigger-than-expected losses and IPO lockup chatter—a reminder not every AI name is an overnight winner.

7. AI Talent Tug-of-War (Taylor’s Version): Microsoft is poaching AI talent from Meta, turning Silicon Valley recruiting into a high-stakes chess match. Call it the “Eras Tour” of headhunting—just with fewer sequins and more GPUs.

That’s the wrap for this week’s market movements. We’ll be back next week with more updates on our live portfolio.

Until then, happy investing!
— The Investogy Team, Kätlin & Siimon

PS. For a daily dose of market insights, quick takes, and financial inspiration, make sure to follow us on Twitter @Investogy