Forex
Nvidia Earnings and PCE Inflation Data Set to Steer Market Direction
The week ahead will be pivotal for US stocks as Nvidia's earnings and PCE inflation data take center stage. The two events have the potential to set the market's direction into next month's Fed meeting, scheduled for September 16-17.
Nvidia reports its quarterly results on Wednesday, August 26, with analysts expecting revenue in the USD 93-95 billion range, up roughly 96% year over year. The company holds about 80% of the AI accelerator market and its earnings tend to set the tone for the entire tech sector.
The PCE inflation data is also crucial as it's the Fed's preferred inflation gauge. A cooler than expected print would strengthen the case for a Fed Rate cut, currently priced in at around 83% by year-end.