NVIDIA Earnings Ease Inflation Fears Amid Jackson Hole Jitters
NVIDIA's strong earnings update has lifted market sentiment ahead of the Jackson Hole central bankers' symposium. The rally helped ease concerns triggered by sticky inflation readings from the U.S., which showed an annual PCE Price Index above the Fed's 2-percent target.
Despite this, Wall Street Futures remain directionless around the flatline as anxiety ahead of the symposium and speech by Fed Chair Kevin Warsh weighs on sentiment. Major benchmarks in Europe are trading mostly negative notes, while Asian markets finished on a mixed note earlier in the day.
The six-currency Dollar Index has edged up amidst lingering geopolitical uncertainty. Ten-year sovereign bond yields have hardened across major economies. Crude oil prices and gold extended their respective gains and losses.