U.S. stocks opened slightly lower on Aug. 27, with NVIDIA down 1.35% intraday and its market capitalization standing at $5.09 trillion, according to market data from BIT (bit.com). Attention has centered on the company’s upcoming earnings release, as investors wait for both the headline results and management’s latest guidance on AI demand.
The report is being watched as a test of whether AI-related trades, which had recently come under pressure, can regain momentum. Analysts expect NVIDIA’s revenue for the previous quarter to have nearly doubled from a year earlier, and market expectations broadly point to another set of strong growth figures. Even so, questions remain over whether massive spending tied to AI can deliver matching returns.
NVIDIA shares had fallen for seven straight trading sessions before rebounding on Tuesday, suggesting investors had already begun positioning ahead of the earnings release. Outside of NVIDIA, traders are also watching Federal Reserve Chair Warsh’s first major speech at the Jackson Hole symposium on Friday for clues on the path of interest rates. In commodities, Brent crude’s weekly decline had widened to about 8% before narrowing sharply and turning positive after U.S. EIA data showed crude inventories rose by only 95,000 barrels last week, well below expectations.
U.S. stocks opened slightly lower on Aug. 27, and NVIDIA fell 1.35% intraday, with its market capitalization at $5.09 trillion, according to market data from BIT (bit.com).
Markets are focused on NVIDIA’s upcoming earnings report. Investors are waiting for the company’s results and its latest guidance on AI demand to judge whether AI trades, which had been under pressure, can regain momentum.
Earnings in focus
Analysts expect NVIDIA’s revenue for the previous quarter to have nearly doubled year over year, and market expectations broadly point to another quarter of strong growth. Even so, there are still concerns over whether massive capital spending on AI can translate into corresponding returns.
On the stock side, NVIDIA had already posted losses for seven straight trading sessions before rebounding on Tuesday, with investors positioning ahead of the earnings release.
Other market drivers
Beyond NVIDIA’s earnings, markets are also watching Federal Reserve Chair Warsh’s first major speech at the Jackson Hole symposium on Friday for clues on the future path of interest rates.
In commodities, Brent crude’s cumulative weekly loss at one point widened to about 8%. That decline narrowed sharply and prices turned higher intraday after U.S. EIA data showed crude inventories rose by only 95,000 barrels last week, far below expectations.
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