S&P, Nasdaq futures slip as markets await Iran sanctions, Nvidia results
Investors awaited sanctions on Iran, a Jackson Hole speech and Nvidia’s results as 30-year Treasury yields hit a 19-year high last week.
- On Monday, S&P 500 and Nasdaq futures declined as investors braced for U.S. sanctions on Iran, Nvidia quarterly results due Wednesday, and Federal Reserve Chair Kevin Warsh's Jackson Hole speech later this week.
- Treasury Secretary Scott Bessent described U.S. measures as "the greatest financial offensive ever," while Tehran warned any support constitutes an "act of war" amid Iran's currency crisis, with the rial dropping to 2.02 million to the dollar.
- Nvidia customers reported server price hikes exceeding 15% amid AI financing concerns, while Alibaba shares slipped 3.4% after launching a $10.2 billion share sale at a sharp discount.
- Investors will closely watch Warsh's address at the Fed's annual Jackson Hole symposium later this week for signals on monetary policy amid surging bond yields and energy price volatility.
- Wednesday's personal consumption expenditures report will test the Fed's preferred inflation gauge, which remains stubbornly above 3% following earlier data showing the economy expanded just 1.5% in the second quarter.
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The results of the American Nvidia, the most valued company in the world and key indicator of the sector, are expected this Wednesday. ...
The three major New York stock indices opened mixed ahead of the U.S. announcement of sanctions against Iran. On the 24th (local time), at the New York Stock Exchange, the Dow Jones 30 Industrial Average stood at 53,440.37, up 163.36 points (0.31%) from the previous close. The Standard & Poor's (S&P) 500 index fell 23.59 points (0.31%) from the previous close to 7,650.78, and the Nasdaq Composite index rose 241
Stocks, oil slip ahead of US threat of economic war against Iran
Wednesday's earnings report from chip giant Nvidia and Thursday's opening of the annual gathering of central bankers in Jackson Hole were also adding to caution on stock markets. In New York, the Dow was little changed in early trading, but the wider S&P 500 and the tech-heavy Nasdaq were lower. London, Paris, and Frankfurt were all marginally lower at mid-afternoon in Europe. "Trade tensions are back in the headlines this morning following th…
(Seoul = Yonhap News) Reporter Yoon Jung-won of Yonhap Infomax = The three major stock indices of the New York stock market opened mixed as they awaited the announcement of U.S. sanctions against Iran.
Wall Street opens lower as high-stakes Iran, inflation tests loom
Wall Street’s main indexes opened lower on Monday (Aug 24) as investors weighed the US pledge of an “economic D-Day” against Iran while awaiting AI giant Nvidia’s quarterly results and a cl... Read more at The Business Times.
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