Nvidia Earnings, Jackson Hole, and Inflation Data Set to Steer US Stock Market
The US stock market is bracing for a potentially volatile week ahead of several key events, including the Jackson Hole symposium, Nvidia's earnings release, and the July personal consumption expenditure price index.
Nvidia's quarterly earnings report is expected to be closely watched, particularly its comments on AI spending, the Rubin chip, and any shift in its relationship with China. A strong update from the company could help revive leadership in risk assets and support a broader advance in the S&P 500.
The Jackson Hole symposium will feature Federal Reserve Chair Kevin Warsh's remarks, which are likely to be closely scrutinized for signs of concern about rising bond yields. The US 30-year Treasury yield has surged to multi-decade highs amid concerns over the government's $40 trillion debt and persistent inflation above the Fed's 2% target.
The July PCE inflation data is expected to show headline inflation at 0.20% month-on-month and core inflation at 3.2% annually, with economists polled by FactSet predicting a slight easing of core inflation.