M Alfathan Rahman
M Alfathan Rahman
Two big catalysts stack up next week, Nvidia earnings and the Jackson Hole symposium, the twin tests that set Wall Street's direction.
US markets closed the week under pressure. In Thursday's session the Dow shed about 700 points, the S&P 500 fell 0.87%, and the Nasdaq slipped 1%. A rebound in bond yields and a jump in oil prices were the main drags.
The bigger story sits in next week. Two catalysts pile into one stretch while the major indices still trade near record highs.
The first is Nvidia's quarterly report, the single biggest test of the AI trade. The second is the Jackson Hole symposium, where the market reads the Fed's rate path. This weekend is the time to set positions before a busy week.
Pre-market percentages are updated near publish time as the US pre-market opens.
| Stock | Movement | What to Watch |
|---|---|---|
| NVDA | Next week's main catalyst | Reports Wednesday next week after the close, the barometer for AI sentiment across the sector |
| AMD | Tracks Nvidia's tone | Closest AI-chip rival, Nvidia's guidance sets the demand read for the group |
| TSM | Chip supply chain | Primary manufacturer for Nvidia and AMD, directly exposed to the AI demand cycle |
| AVGO | AI networking side | Data-center networking supplier, moves with AI capex spending |
| MSFT | Rate-sensitive | One of Nvidia's largest chip buyers, also in focus into Jackson Hole |
Nvidia reports quarterly results on Wednesday next week, 26 August, after the close. The print caps the mega-cap earnings season and is the most awaited barometer of AI sentiment. Because consensus figures still vary across sources, the focus is better placed on guidance and demand commentary than on the headline number alone. Nvidia's reaction can move the entire semiconductor complex.
The Jackson Hole symposium runs 27 to 29 August and is next week's main macro catalyst. It is also the stage for Kevin Warsh's first keynote as Fed Chair, after he was sworn in this May. Markets will parse the signal on the rate path ahead of the September meeting. A more cautious or more dovish tone could move rate-sensitive stocks.
AMD, TSM, and AVGO tend to move in step with Nvidia into its report. Nvidia's demand guidance sets the reference for the whole AI supply chain, from chipmakers to networking suppliers. The group is a way to read the AI theme more broadly, not just through a single stock.
US futures traded relatively steady into the weekend, with the major indices holding near record highs despite Thursday's decline. Per-stock pre-market percentages are filled near publish time as the US pre-market opens. The semiconductor group is the most-watched cluster heading into Nvidia's report.
The US 10-year Treasury yield climbed back toward 4.7% and oil prices firmed in the latest session, two forces that pressured stocks this week. Into Jackson Hole, the rate signal is the macro lens that matters most. Nvidia's print and the policy path together frame next week's tape.
Next week stacks two big tests at once, Nvidia's report as the driver of AI sentiment and Jackson Hole as the driver of the rate path. Indices enter the week from near record highs, so guidance and policy signals are the key to the reaction.
For those watching, this weekend is about setting positions before a busy stretch. Keep an eye on the watchlist and next week's catalysts before the open. What stocks are you watching for next week?
Disclaimer
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
