Asia Markets Flat as Iran Sanctions Loom and Nvidia Results Awaited
Asia's share markets were flat on August 24 as investors awaited details of threatened US sanctions on Iran, due to be announced later in the session. Oil prices eased ahead of the announcement, with Brent slipping 1.0% to $93.43 a barrel and US crude easing 1.1% to $86.14.
The tech sector is holding its breath for Nvidia's results on August 26, as investors are aware how hard it will be for the chipmaker to meet stratospheric expectations. Analysts expect quarterly revenue to almost double to around $92 billion, with full-year earnings guidance seen in a range of $103 billion to $105 billion.
Federal Reserve Chairman Kevin Warsh is due to speak at Jackson Hole on August 28, and market participants are hoping for some clarity on the outlook for US interest rates. However, analysts warn that past chairs have not wanted to front-run Fed decisions at the event, and instead may focus on aspects of his 'regime change' agenda.