BlockBeats reported on Aug. 26 that several key developments were in focus ahead of the US stock market open.
Nvidia earnings due after Wednesday close
Nvidia is scheduled to release its second-quarter results after the US market closes on Wednesday. The report is being treated by the market as a key test of the broader AI trade.
Wall Street expects Nvidia’s second-quarter revenue to exceed $92 billion. The market is also looking for third-quarter revenue of about $103.7 billion. This earnings release, along with the company’s forward guidance, is seen as a major catalyst for the next move in AI-related stocks.
July PCE comes in above expectations
The US July PCE price index rose 3.7% year over year, unchanged from the previous month and above the market expectation of 3.6%. July core PCE came in at 3.3%, matching expectations, with the prior reading at 3.30%.
Market pricing showed a modest increase in expectations for a Federal Reserve rate hike next month. Interest-rate futures indicated that after the PCE data was released, the probability of a September Fed rate hike was about 42%, up from about 36% before the report.
Reuters survey lifts 2026 year-end index targets
A Reuters survey showed the S&P 500 is expected to reach 7,900 by the end of 2026, up from 7,620 in the May survey. The Dow Jones Industrial Average is expected to reach 54,500 by the end of 2026, compared with 52,500 in the May survey.
US midterm election countdown draws market attention
With 10 weeks to go before the 2026 US midterm elections, Democrats currently lead by about 6 percentage points in the generic congressional ballot. Markets are assessing how a return to congressional control by Democrats could affect financial assets.
The analysis cited in the source said that if Democrats control Congress, the US could enter a period of divided government, with major legislation facing prolonged political deadlock.
Alibaba completes HK$80 billion share placement
Alibaba Group said it has completed an HK$80 billion new share placement, issuing 710 million new ordinary shares to non-US persons outside the United States at HK$112.70 per share. The company said it plans to use all net proceeds from the placement to strengthen its global AI buildout.
MiniMax reports sharp increases in token usage and revenue
At its 2026 mid-year results meeting, MiniMax disclosed that July token consumption had reached 20 times the January level. Second-quarter revenue rose 81.8% from the first quarter, and August ARR increased further to more than $800 million.
Samsung Electronics and SK hynix to raise HBM4 supply for Nvidia
Samsung Electronics and SK hynix plan to increase shipments of 8-layer HBM4 memory for Nvidia in the second half of this year. The arrangement is mainly linked to Nvidia’s supply strategy and is intended to keep supply stable across different HBM products while also taking heat output into account.
According to the source, 8-layer memory is highly likely to become the flagship configuration for the next-generation HBM4E.
About 81,700 BTC options to expire on Deribit this Friday
About 81,700 BTC options are set to expire on Deribit at 16:00 Beijing time this Friday, with a notional value of about $6.44 billion. The expiry could amplify market volatility.
Call options account for about 44,600 contracts, while put options account for about 37,100. The put/call ratio stands at 0.83, pointing to an overall bullish tilt. The most concentrated call strikes are $75,000 and $80,000, with open-interest notional values of about $236 million and $157 million, respectively.
Bank of America keeps Buy rating on Nvidia
Bank of America maintained its Buy rating on Nvidia and kept its $350 price target. The bank said that, driven by the scale-up of Vera Rubin production, Nvidia’s second fiscal-quarter revenue and guidance could again beat market expectations by 3% to 4%.
Still, Bank of America said the headline earnings numbers are not the most important part of this report. It said investors should pay closer attention to whether Nvidia discloses multi-year off-balance-sheet commitments signed to secure chip supply, power, AI models, and customer demand.