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Wall Street watches Jackson Hole speech, PCE inflation, Nvidia earnings
The coming week also includes multiple Treasury auctions totaling $183 billion across the two-, five-, and seven-year maturities.
Investors are heading into the week focused on signals for U.S. interest rates, with Federal Reserve Chairman Kevin Warsh scheduled to speak at the Kansas City Fed's Jackson Hole symposium from August 27 to August 29. LiveMint Markets said the speech is expected to be the main event for investors looking for greater clarity on the timing of any further rate increases.
Economic data in the spotlight includes the latest U.S. PCE inflation release, a key measure the Fed uses to gauge inflation, along with the second estimate of second-quarter GDP, July new home sales, the Conference Board's consumer confidence index for August, and July durable goods orders. The report also outlined a calendar of additional releases and surveys across the week.
On the corporate front, Nvidia is set to report quarterly results after the closing bell on Wednesday, with markets looking for read-throughs on demand for artificial intelligence infrastructure, the pace of new product launches and ramps, and its exposure to the Chinese market. LiveMint Markets also listed other companies scheduled to report during the week, including Intuit, CrowdStrike, Salesforce, HP Inc, Marvell, Ulta Beauty, PDD Holdings, XPeng, and BYD.
The bond market is also expected to draw attention, given several Treasury auctions during the week. According to LiveMint Markets, the U.S. Treasury plans to sell $69 billion of two-year notes on Tuesday, $70 billion of five-year notes on Wednesday, and $44 billion of seven-year notes on Thursday.