Nvidia's Q2 Report and Jackson Hole: Market Awaits Clarity

Nvidia's Q2 report is expected to be a key test for the bull market driven by artificial intelligence development. The company will publish its quarterly results on Wednesday, after which investors will be looking at forecasts regarding further demand for next-generation chips.

The report comes as the US market-implied probability of a rate hike in autumn has risen, with a September hike priced in at 40% and an October one at slightly over 60%. This is a significant concern for valuations, especially after the recent failed intervention by Scott Bessent.

The Jackson Hole symposium will also take place from Thursday to Saturday, where Chairman Warsh will give a speech on Friday. The market is looking for clarity on monetary policy, and its absence may add to the pressure on the US dollar.