Nvidia's Earnings and Powell's Speech Set the Stage for Market Moves

Last Updated: 5.9.2023 17:29

The Federal Reserve chairman will speak Friday at the central bank’s summer symposium in Jackson Hole, Wyoming. This Friday Aug. 25th 2023, at 10:05 a.m.

Along with Nvidia’s upcoming earnings, what’s on your radar?

The Market’s Resilience Amid Global Uncertainties

Despite the economic turbulence emanating from China, the S&P 500 has shown remarkable resilience. The index opened higher, signalling that investors are focusing on other factors. Two events are particularly grabbing attention: Nvidia’s upcoming Q2 earnings and Federal Reserve Chair Jerome Powell’s keynote address at the Jackson Hole event. Let’s dive in.

Nvidia: A Chip Off the Old Block or a New Game Changer?

Nvidia is set to release its Q2 earnings this Wednesday, and Wall Street is buzzing. Analysts have unanimously revised their earnings forecasts upward, with a consensus adjusted EPS of $2.09 and a sales estimate of $11.07 billion. With analysts from HSBC and KeyBanc raising their price targets, Nvidia is a stock you can’t afford to ignore.

The Fed’s Stance: What to Expect from Powell’s Speech

Jerome Powell’s upcoming speech at the Jackson Hole Symposium is another event that could sway the markets. While the general expectation is that Powell will maintain his stance on keeping interest rates “higher for longer,” any deviation could have significant implications for your investment strategy.

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Economic Indicators: The Numbers That Matter

Keep an eye on the S&P Global Manufacturing and Services PMIs, as well as the Durable Goods Orders data. These indicators could provide additional context for Powell’s speech and potentially influence market movements.To contrast, the S&P 500 recently broke below its 50-day SMA, a technical indicator that could signal future volatility. For those looking to make calculated risks, understanding these technical aspects is crucial.

The Investor’s Playbook

For the savvy, these events offer a golden opportunity to recalibrate investment strategies. Whether you’re bullish on Nvidia or keeping a close eye on the Fed’s next move, the coming week promises to be a rollercoaster ride worth taking. We’ll keep you updated here so make sure to come back for more.