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Markets pause ahead of Nvidia earnings as tech drift persists
1 hour ago•Source: Yahoo Finance
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Nvidia earnings on deck as U.S. stock futures drift near flat before inflation data
U.S. stock futures hovered near flat ahead of the core PCE inflation release and Nvidia’s earnings, with Dow, S&P 500 and Nasdaq futures showing muted moves as investors await the data and the AI-chip maker’s results after the bell; economists expect core PCE at 3.3% and attention remains on the Fed’s policy path and Jackson Hole remarks.
Markets hold steady ahead of inflation data as Nvidia earnings loom
Stock futures hover near flat ahead of the July PCE inflation print and Nvidia's Q2 results, after a session where the S&P 500 rose about 0.3%, the Nasdaq climbed 0.7%, and the Dow gained 0.3% on softer yields and lower oil. The inflation report is expected to show a 0.1% monthly rise and a 3.6% yearly increase, keeping Fed policy in focus ahead of Fed Chair Powell’s or Warsh’s remarks at Jackson Hole later in the week. Nvidia’s earnings after the bell are closely watched given its weight in the S&P 500, and broader markets remain affected by movements in oil and Treasuries.
Wall Street edges higher as US-Canada tariffs heat up and Nvidia awaits results
U.S. stocks rose with the Dow, S&P 500 and Nasdaq posting gains as traders priced in escalating US-Canada trade tensions while awaiting Nvidia’s quarterly results. Nvidia gained about 2% ahead of its report, helping the tech-heavy Nasdaq, while Dick’s Sporting Goods slid roughly 30% after missing estimates and cutting guidance. Bitcoin briefly vaulted above $80,000 amid dollar-risk headlines and broader risk-on sentiment, while gold and other assets also moved as data suggested softer housing and consumer confidence ahead of upcoming Jackson Hole commentary from Fed officials.
Markets edge up as US-Canada tariff row intensifies ahead of Jackson Hole
U.S. equities advanced modestly after a day of tariff-driven headlines, with the Dow up about 0.3%, the S&P 500 around 0.2%, and the Nasdaq roughly 0.6%, as Canada retaliated with duties in response to U.S. tariffs. Nvidia earnings and Fed Chair Jerome Warsh’s Jackson Hole speech loom large for market sentiment, while Bitcoin briefly topped $80,000 and oil slipped on tariff headlines. Economic data showed softer new-home sales and consumer confidence, setting a cautious tone ahead of the Fed symposium. DICK’S Sporting Goods fell about 13% after missing expectations and trimming its outlook, and Canada’s TSX rose on financials amid the broader volatility.
Gold Near 3-Month Peak as Dollar Dips and Treasury Buyback Supports Prices
Gold sits near a three-month high as a softer dollar and U.S. Treasury bond buybacks support prices; spot gold is about $4,643/oz with futures near $4,700, and the metal has surged more than 15% this month. Investors await inflation data and a potential dovish signal from the Fed at Jackson Hole, which could extend the rally, while a hawkish surprise could cap gains.
Nvidia’s earnings cue points to $280B swing, per options market
Nvidia’s upcoming earnings are expected to trigger about a $280 billion swing in its market value, with options pricing in a roughly 5.4% move in either direction the day after the report. The implied move is below the stock’s 12‑quarter average swing of about 7.4% per ORATS, suggesting a calmer post‑earnings reaction. The shares have fallen for seven straight sessions but are up about 11.7% this year, amid broader market pressure from higher yields and ongoing AI capex. Investors will scrutinize revenue guidance, chip demand, margins, and whether hyperscaler cloud spending on AI infrastructure remains strong, highlighting Nvidia’s role as an AI bellwether and its partnerships to finance AI data-center growth.
Dick's Sporting Goods Slides After Cutting Outlook Amid a Tough Retail Backdrop
Dick's Sporting Goods shares fell after it cut its full-year outlook, citing a challenging retail backdrop; the move comes as the Q2 earnings season winds down and Nvidia remains a market focal point, with earnings for S&P 500 companies seen rising about 50% year over year on AI-driven momentum, while investors await updates from other retailers like Dollar Tree and Kohl's.
Apple-China Memory Sourcing Rumors Drag Memory Stocks
Memory stocks slid after weekend reports that Washington may allow Apple to source DRAM from CXMT and NAND from YMTC in China ahead of Xi’s U.S. visit. SanDisk fell about 9%, Micron around 7%, and Western Digital about 7% as the Roundhill Memory ETF also declined, signaling broad sector weakness. Analysts characterized the move as an overreaction given CXMT’s limited qualification for Apple products and YMTC’s current domestic allocations, while no formal policy decision has been announced — investors should watch for Xi-visit headlines and potential further gaps in this highly beta group.
Markets brace for Nvidia earnings as Jackson Hole looms
US stock futures rose ahead of Nvidia's earnings and the Federal Reserve's Jackson Hole summit, with Dow futures up about 0.4%, S&P 500 futures up 0.5%, and Nasdaq-100 futures up around 1%, as traders await key data (ADP payrolls, new home sales, PMIs) and earnings from INTU, ZM, and DKS. Bitcoin topped $80,000 amid dollar‑driven anxieties from Iran sanctions, while oil crept higher and gold paused after recent rallies as markets prep for the Jackson Hole speech.
Nvidia's unexpectedly cheap multiple stirs questions ahead of earnings
Nvidia trades with a forward P/E around 24x, a valuation many see as cheap given its rapid growth, but JPMorgan and other analysts warn that the stock may need a rerating as investors shift from speculative hopes to actual profits. Catalysts for upside include sustained AI-compute leadership, cost-per-token reductions, and potential upside from China GPU shipments, though near-term guidance and cyclical risks remain a consideration ahead of earnings.