We've never seen this level of uncertainty the day before a Fed meeting, says Bespoke's Paul Hickey

• Ford's earnings and guidance were 'phenomenal,' indicating strong economic health and a positive sign for the 'broadening out' trade.
• Seagate's earnings reaction was positive, contrasting with other chip names.
• Mega-cap tech stocks like Apple are considered richly valued (over 30x earnings), while Nvidia, despite being the 'epicenter of the AI trade,' shows significant uncertainty and volatility (Oracle also noted for wild swings).
• Overall market uncertainty is high, particularly regarding the upcoming Fed meeting.

The discussion focuses on recent earnings reports from Ford, Visa, and Seagate, highlighting Ford's strong performance as an indicator of broader economic strength and a 'broadening out' trade in the market. While some mega-cap tech stocks like Apple are seen as richly valued, the overall market sentiment is mixed due to uncertainty surrounding AI (Nvidia, Oracle) and the upcoming Fed meeting.