Overview
- Markets entered the week cautiously on Monday as investors trimmed exposure to semiconductor and tech names and major chip ETFs fell, reflecting positioning ahead of Nvidia’s report.
- Nvidia will report fiscal Q2 results after the market close on Wednesday, August 26, with analysts forecasting roughly $92 billion in revenue and about $2.09 in adjusted EPS.
- A fresh wave of geopolitical and trade shocks has added pressure on sentiment, including the U.S. imposing 50% tariffs on about $20 billion of Canadian goods and Canada’s pledge to retaliate starting September 8.
- Policymakers and bond markets are adding another layer of risk as 10‑year Treasury yields sit near 4.7% and Federal Reserve Chair Kevin Warsh’s Jackson Hole address is expected to influence yields and risk appetite.
- Treasury Secretary Scott Bessent is set to detail new sanctions targeting Iran this week, a development that together with higher oil prices could raise inflation concerns and affect corporate spending on AI infrastructure.