Iran Sanctions Loom Over Asia Markets Amid Nvidia Results Anticipation
Investors in Asia were waiting for news of threatened US sanctions on Iran, which could impact oil prices, when markets opened on Monday. Brent crude slipped 1% to $93.43 per barrel ahead of the announcement. The Nikkei index was near flat after falling almost 4% last week.
The tech sector is holding its breath for Nvidia's quarterly results, due out on Wednesday. Analysts expect revenue to nearly double to around $92 billion, with full-year earnings guidance seen in a range of $103 billion to $105 billion.
Meanwhile, Federal Reserve Chairman Kevin Warsh will speak at the Jackson Hole conference on Friday. Market participants are hoping for clarity on US interest rates, but Bruce Kasman, chief economist at JPMorgan, expects disappointment as past chairs have avoided giving forward guidance at the event.