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Asia stocks flat as Iran sanctions, Nvidia earnings and Fed outlook loom

Oil prices eased ahead of a planned U.S. sanctions announcement on Iran, while markets also weighed expectations for Nvidia results and the chance of a Sept. 16 Fed rate increase.

Reported · Written up by our desk · Trade & Tariffs

Share markets were flat in Asia on Monday, with investors waiting for details of threatened U.S. sanctions on Iran later in the session, according to Reuters. Oil prices eased as the sanctions question remained in focus, while the Canadian dollar dipped on expectations that a trade war could expand between Canada and the United States, Reuters reported. The full tech sector was also watching Nvidia ahead of results due Wednesday, amid expectations for quarterly revenue to nearly double to around $92 billion, and full-year earnings guidance of about $103 billion to $105 billion. Separately, market participants looked for clarity on U.S. interest rate expectations ahead of Federal Reserve Chairman Kevin Warsh's remarks in Jackson Hole on Friday. Markets imply about a 40% chance the Fed will raise rates at its Sept. 16 meeting, with pricing that still leaves a move by December largely in focus. Reuters also noted that Warsh may face questions tied to Treasury Secretary Scott Bessent's surprise announcement of at least a doubling in bond buybacks aimed at restraining rising yields. While 30-year yields were around 5.2760%, Brent futures slipped 1.0% to $93.43 ahead of the Iran-related news conference, after gaining 6.6% the prior week.

Latest closeBrent $88.59 ▲1.8%

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