Nvidia boosts AI stocks as Jackson Hole takes centre stage

Frank Walbaum

Important news this week

Thu, 27th US Jackson Hole Symposium Begins.

Fri, 28th, 14:30 CET CA Gross Domestic Product.

Nvidia boosts AI stocks as Jackson Hole takes centre stage

Nvidia's latest earnings and outlook came in strong, giving the AI and technology sector another potential boost. Markets are reacting positively so far, with stocks likely to open higher as investors reassess growth expectations. The key question now is whether the optimism can spread beyond AI and support the broader equity rally.
The US Dollar is stronger, putting some pressure on precious metals. Gold is moving lower, while Silver remains broadly sideways. Oil is also weakening, continuing its recent correction and potentially reflecting fading geopolitical risk premiums and profit-taking.

Market talk

The focus now shifts quickly to Jackson Hole, which could provide the next major market catalyst. Investors will be watching closely for signals on the future path of US interest rates and inflation. A dovish tone could weaken the Dollar further and support stocks, Gold and crypto, while a more hawkish message could trigger profit-taking after the recent rally.
For now, Nvidia has provided the market with a fresh reason to push higher. If the S&P 500 and Nasdaq follow through today, the recent bullish momentum could continue. However, with markets already near elevated levels, Jackson Hole could determine whether this becomes another leg higher or simply another opportunity to take profits.

Tendencies in the markets

Equities mixed, USD stronger, crypto sideways, oil lower, XAU lower, XAG, sideways, JPY weak.

Author

Frank Walbaum

GBP/USD remains capped at 1.3600, awaits key US event risks

GBP/USD is consolidating in Friday's European trading after facing rejection at 1.3600 earlier on. Traders remain on the sidelines and refrain from placing fresh bets on the major ahead of the critical US Nonfarm Payrolls benchmark revision and Fed Chair Warsh's debut at the Jackson Hole Symposium. Both events could ramp up market volatility.

EUR/USD hovers around 1.1650 ahead of NFP revision, Warsh

EUR/USD is treading water at around 1.1650 in the European session on Friday. The pair faces headwinds as the US Dollar clings to its recent recovery ahead of the US Nonfarm Payrolls benchmark revision and Fed Chair Warsh's Jackson Hole speech. However, the downside appears cushioned by hawkish ECB expectations.

Gold holds gains above $4,600 as bullish bias prevails

Gold extends its gains for the second successive day, trading around $4,610 during the European hours. The price of the precious metal is remaining within the ascending channel pattern, suggesting a persistent bullish bias. The XAU/USD pair is retaining a constructive bullish bias as spot holds above both the nine-period and 50-period EMAs, keeping the short- and medium-term trends aligned to the upside.

Hyperliquid rally stretches thin amid treasury growth, CFTC innovation push

Hyperliquid (HYPE) is down 2% on Friday after reaching a record high of 86.75 the previous day. Nasdaq-listed Hyperliquid Strategies Inc raised almost $650 million in an equity deal to increase its HYPE holding to 29.3 million tokens. Hyperliquid is also pushing to expand its perpetual futures markets in the US.

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September. The Jackson Hole symposium, held from August 27 to 29, has the official theme “Financial Innovation: Implications for Payments and Policy.”

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.