Nasdaq Futures Tense Ahead of Nvidia Earnings and Rising Treasury Yields
The US stock market is expected to be volatile on Monday, according to recent predictions. Nasdaq futures are forecasted to open at 26,250, with a potential high of 26,600 and low of 25,900.
Investors will be weighing the strength of AI demand against increased borrowing costs, which has been negatively impacting tech stocks in recent weeks.
The market's focus will shift to Nvidia's earnings report on August 26, with analysts expecting $92 billion in revenue and $2.09 adjusted EPS. A strong guidance from the company could revive AI stocks and lead to a rebound in the Nasdaq index.
Oil prices have hit $87.06 per barrel, putting pressure on household finances and company margins. The recent drop in the Nasdaq index below its 21-day exponential moving average is also a concern for investors.