Nvidia Earnings, Iran Sanctions, and Warsh's Jackson Hole Address Send Wall Street into Turmoil

Nasdaq futures fell by about 0.6% on Monday as Wall Street entered one of August's most consequential weeks. This comes amidst heightened expectations for Nvidia's earnings, new sanctions on Iran, and Federal Reserve Chair Kevin Warsh's address at Jackson Hole.

Treasury Secretary Scott Bessent is expected to outline tougher sanctions on Iran, potentially targeting countries and companies that continue trading with Tehran. Oil prices dropped before the announcement as traders locked in profits, with Brent falling towards $91 and WTI near $85.

The bond market remains a key factor in the equity outlook, particularly for technology stocks. Commerzbank analysts see buyers of Iranian oil as a likely focus of the sanctions, which could quickly restore upward pressure on crude and inflation.