U.S. futures rose as investors braced themselves for the quarterly financial results of Nvidia Corp., one of the central chipmakers in the push for artificial intelligence. Shares in the chipmaker were up 1% during premarket trading.
Contracts on the tech-heavy Nasdaq 100 gained 0.4%, while those on the Dow Jones Industrial Average edged just 0.1% higher. Futures on the S&P 500 gained 0.3%. In Europe, the Stoxx 600 index rose by 0.3%, while the MSCI World Index remained little changed.
Markets are predicting that Nvidia will report revenue of $11.05 billion and adjusted earnings per share of $2.07. Beyond Nvidia’s earnings, investors are also bracing themselves ahead of a speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Policy Symposium on Friday.
“The market is in a wait-and-see mode for the main catalysts this week: Nvidia earnings and Jackson Hole,” Ulrich Urbahn, head of multi-asset strategy and research at Berenberg, observed. “Given the strong yield increase since July, the Jackson Hole meeting is of particular interest for investors.”