The Jackson Hole symposium and Nvidia's earnings announcement scheduled for 26 August will be the two major events for markets next week. Against the backdrop of the Fed chair's policy guidance and long-term interest-rate trends, markets, including AI-related stocks, are likely to remain under close observation.
The Jackson Hole symposium will be held from 27 to 29 August next week, with a keynote speech by Fed Chair Warsh scheduled for 28 August. Although inflation indicators are showing clear signs of slowing and concerns about further rate hikes are reportedly easing, the chair's policy guidance could leave markets facing medium-term uncertainty.
Nvidia's share-price performance after its earnings announcement on 26 August is expected to affect the outlook for AI- and semiconductor-related stocks. At the previous earnings release, the shares fell after results exceeded market expectations, underscoring the uncertainty surrounding market reactions to strong earnings.
Long-term interest rates continue to rise, and the elevated 10-year Treasury yield in particular is expected to cap further gains in technology stocks. Attention may also focus on economic indicators such as employment data and retail sales, which could affect investor sentiment toward non-AI stocks.
Key earnings announcements scheduled include Intuit on 25 August; Salesforce, CrowdStrike, Synopsys, Nvidia and HP on 26 August; and Marvell Technology and Best Buy on 27 August. Attention is also likely to focus on concerns that the factors supporting Marvell Technology's sharp share-price rise since the end of July may already be priced in, as well as developments at Salesforce, a leading SaaS stock.