In U.S.-Canada trade war, Trump says they are ‘the worst’ and Canada’s top trade envoy tells him to ‘kiss my ass’

The article is a roundup of market headlines with no disclosed figures or outcome details. Key items flagged include Canada trade-talks collapsing with 90,000 jobs at risk, “Hello, Bitcoin!” indicating attention to crypto, Nvidia’s perceived underperformance, and discussion of the “vertical inflection point of AI compute,” plus OnlyFans reporting its latest fiscal year. With no specific financial metrics provided, the overall read is mixed/uncertain rather than actionable.

Analysis

The trade-policy angle is more about margin leakage than an immediate macro shock. If the breakdown turns into actual tariff language, the first-order hit lands in cross-border industrials, autos, and logistics rather than in the headline employment data; the market usually underprices how quickly procurement teams de-risk by pulling forward inventory and re-routing suppliers. That means the cleanest expression is not a broad Canada call, but a short-duration hedge against North American cyclicals with the most just-in-time exposure.

For NVDA, the interesting part is not whether AI demand exists, but whether the market is still pricing the wrong bottleneck. The next leg of capex is likely to broaden from GPUs into networking, power, cooling, and memory, which makes the winners increasingly names like AVGO, ANET, VRT, and ETN rather than just the chip leader; that broadens the upside while also capping the multiple if investors keep treating the trade as single-name beta. Over 1-3 months, the catalyst is guidance and hyperscaler spend commentary; over 6-18 months, the risk is that export controls and customer concentration compress forward margins even if unit demand stays strong.

The contrarian view is that "no respect" can be bullish only if the next print proves demand is still under-forecast. If the company merely confirms expectations, the stock can lag because the market is already looking for re-acceleration, not stability. The thesis is falsified by any sign that order growth is normalizing faster than capex plans, or that gross margin expansion stalls as supply-chain leverage shifts away from the GPU stack.

Key Decisions for Investors

• Do not force a broad Canada trade now; treat the headline as an alert and only position if rhetoric becomes actual tariff policy or CAD weakness persists for several sessions.
• Relative-value idea: long AVGO/ANET/VRT vs short NVDA on a 1-3 month horizon if hyperscaler capex remains firm but NVDA sentiment stays disconnected from the broader AI infrastructure spend.
• If NVDA rallies on narrative alone without a higher forward guide, buy a 1-3 month put spread as a defined-risk fade; invalidate the trade on raised revenue guidance or better-than-feared gross margin commentary.
• Keep a watchlist on EWC and U.S. auto/industrial suppliers for second-order tariff risk; these are the faster earnings revisions if trade friction turns into policy.
• For tactical exposure to AI infrastructure, prefer SMH/AVGO/ANET over a pure NVDA overweight until the market proves the next capex leg is broader than one name.