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The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to move back to the upside after ending yesterday’s lackluster session modestly lower.<\/p>\n
The markets<\/span> are likely to benefit from an early rally by technology stocks, as reflected by the 1 percent jump by the tech-heavy Nasdaq 100 futures.<\/p>\n A positive reaction to earnings news from Nvidia (NVDA) is likely to contribute to the initial strength in the tech sector.<\/p>\n Shares of Nvidia are surging by 6.5 percent in pre-market trading after the AI giant reported better than expected second quarter results and provided upbeat revenue guidance for the current quarter.<\/p>\n “Nvidia once again delivered stronger-than-expected results, providing some reassurance that the AI investment cycle remains intact,” said Daniela Hathorn, Senior Market Analyst at Capital.com.<\/p>\n Overall trading activity may remain somewhat subdued, however, as traders look ahead to Federal Reserve Chairman Kevin Warsh’s speech at the Jackson Hole economic symposium on Friday.<\/p>\n Warsh has been reluctant to provide forward guidance for monetary policy, but traders are still likely to pay close attention to his remarks for clues about the outlook for interest rates.<\/p>\n Following yesterday’s report indicating inflation remains sticky, CME Group’s FedWatch Tool is currently indicating a 66.1 percent chance the Fed will leave rates unchanged next month and a 33.9 percent chance of a quarter point rate hike.<\/p>\n After ending Wednesday’s session mostly higher, stocks showed a lack of direction over the course of the trading day on Wednesday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing modestly lower.<\/p>\n The Dow dipped 113.52 points or 0.2 percent to 53,463.88, the Nasdaq slipped 21.10 points or 0.1 percent to 26,130.20 and the S&P 500 edged down 1.58 points or less than a tenth of a percent to 7,675.70.<\/p>\n The choppy trading on Wall Street came as traders seemed reluctant to make significant moves ahead of the release of AI giant Nvidia’s second quarter results after the close of trading.<\/p>\n “Assuming there is no major movement in either a positive or negative direction in geopolitical terms, tonight’s second quarter results from Nvidia are likely to set the tone for markets through the remainder of the week,” said AJ Bell investment director Russ Mould.<\/p>\n Traders were also looking ahead to Federal Reserve Chairman Kevin Warsh’s speech at the Jackson Hole economic symposium on Friday.<\/p>\n Meanwhile, traders largely shrugged off the Commerce Department’s typically closely watched report showing consumer prices in the U.S. increased by slightly more than expected in the month of July.<\/p>\n The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after edging down by 0.1 percent in June. Economists had expected prices to inch up by 0.1 percent.<\/p>\n The report also said the annual rate of growth by the PCE price index came in at 3.7 percent in July, unchanged from in June. The annual rate of growth was expected to dip to 3.6 percent.<\/p>\n Excluding food and energy prices, the core PCE price index still rose by 0.2 percent in July after inching up by 0.1 percent in June. The increase matched economist estimates.<\/p>\n The annual rate of growth by the core PCE price index was 3.3 percent in July, unchanged from June and in line with expectations.<\/p>\n Most of the major sectors showed only modest moves on the day, contributing to the lackluster performance by the broader markets.<\/p>\n However, gold stocks moved sharply lower amid a decrease in the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 2.9 percent.<\/p>\n Significant weakness was also visible among pharmaceutical stocks, as reflected by the 2 percent slump by the NYSE Arca Pharmaceutical Index.<\/p>\n Meanwhile, computer hardware and networking stocks moved notably higher over the course of the session, driving the NYSE Arca Computer Hardware Index and the NYSE Arca Networking Index up by 1.9 percent and 1.6 percent, respectively.<\/p>\n Natural gas stocks also showed a strong move to the upside amid a surge in the price of the commodity, with the NYSE Arca Natural Gas Index climbing by 1.5 percent.<\/p>\n Commodity, Currency Markets<\/b> <\/p>\n Crude oil futures are rising $0.18 to $82.41 a barrel after slipping $0.13 to $82.23 a barrel on Wednesday. Meanwhile, after tumbling $41.20 to $4,653.30 an ounce in the previous session, gold futures are edging down $3.30 to $4,650 an ounce.<\/p>\n On the currency front, the U.S. dollar is trading at 159.43 yen versus the 159.29 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1640 compared to yesterday’s $1.1649.<\/p>\n Asia<\/b><\/p>\n Asian stocks turned in a mixed performance on Thursday as Chinese industrial profits data disappointed and firmer-than-expected U.S. inflation data kept expectations alive for a Fed rate hike by year-end.<\/p>\n The U.S. dollar moved in a narrow range ahead of Kevin Warsh’s first Jackson Hole speech as Fed Chair on Friday that could provide further clues on the path for U.S interest rates.<\/p>\n Gold was steady at $4,598 an ounce after a pullback on Wednesday. Brent crude futures slipped toward $87 a barrel, extending losses for a fourth consecutive session on easing supply concerns.<\/p>\n Qatar’s Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani will visit the Iranian capital today in an effort to relaunch peace talks between the U.S. and Iran.<\/p>\n China’s Shanghai Composite Index jumped 1.1 percent to 3,956.57 as investors looked for fresh policy support from the ongoing National People’s Congress Standing Committee meeting.<\/p>\n Hong Kong’s Hang Seng Index dipped 0.3 percent to 25,565.74 after data showed growth in China’s industrial profits slowed for a third straight month to the weakest pace this year.<\/p>\n Z.AI Co shares soared 12.6 percent after the company launched GLM-5.3-Flash, a new AI model claimed to run only on Chinese chips.<\/p>\n Japanese markets ended slightly lower after a choppy session. The Nikkei 225 Index slipped 0.2 percent to 66,131.98, while the broader Topix Index settled 0.2 percent higher at 4,117.22.<\/p>\n Nvidia supplier Advantest tumbled 3 percent while memory chip maker Kioxia surged 5 percent and Fujikura, a maker of fiber-optic cables, rallied 3.7 percent.<\/p>\n Seoul stocks rallied as the Bank of Korea raised rates for a second straight time, as widely expected, and lifted its projections for growth and core inflation this year.<\/p>\n The Kospi Index jumped 1.5 percent to 6,912.37, extending gains for a third straight session. Samsung Electronics advanced 1.7 percent and SK Hynix surged 2.5 percent following better-than-expected earnings results and guidance from Nvidia.<\/p>\n Australian markets fell sharply, with banks, consumer discretionary and mining stocks leading losses. The benchmark S&P\/ASX 200 Index dropped 1 percent to 9,038.20 as strong household spending data prompted traders to price in another interest rate hike in September.<\/p>\n The broader All Ordinaries Index fell 1 percent to 9,243.20. Retail giant Wesfarmers plunged 4.6 percent after delivering weaker-than-expected earnings.<\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 Index slid 1 percent to 13,880.05, erasing gains in the morning session.<\/p>\n Europe<\/b><\/p>\n European stocks have moved mostly lower on Thursday as lingering geopolitical tensions as well as uncertainty surrounding the Federal Reserve’s rate outlook overshadowed upbeat earnings results and guidance from Nvidia.<\/p>\n After firmer-than-expected U.S. inflation data kept expectations alive for a Fed rate hike by year-end, investors now await Fed Chair Kevin Warsh’s Jackson Hole speech for further direction.<\/p>\n The French CAC 40 Index is down by 1.1 percent and the U.K.’s FTSE 100 Index is down by 0.4 percent, although the German DAX Index is up by 0.3 percent after a survey showed German consumer confidence is set to improve in September.<\/p>\n Driven by income expectations and willingness to save, the forward-looking GfK consumer sentiment index rose to -26.6 in September from -29.4 in August.<\/p>\n In corporate news, Pernod Ricard shares have slumped. The French spirits and wine group reported a 3.9 percent drop in annual sales for fiscal 2026, citing weak demand in China and the United States.<\/p>\n Swedish medical technology<\/span> company Elekta has also tumbled after reporting weaker-than-expected first-quarter sales.<\/p>\n Insurer Prudential has also moved to the downside after reporting a slowdown in new business<\/span> profit growth.<\/p>\n Belgian insurer Ageas has also fallen after the combined ratio deteriorated to 95.2 percent in the first half of 2026 from 92.1 percent a year ago due to weather-related claims in Europe.<\/p>\n Meanwhile, Halfords Group has soared after the British bicycles and car parts retailer forecast 2027 profit ahead of market expectations.<\/p>\n Betting firm Plus500 has also shown a strong move to the upside after launching a new $100 million share buyback.<\/p>\n U.S. Economic News<\/b><\/p>\n A report released by the Labor Department on Thursday unexpectedly showed a modest decline in first-time claims for U.S. unemployment benefits in the week ended August 22nd.<\/p>\n The Labor Department said initial jobless claims dipped to 203,000, a decrease of 4,000 from the previous week’s revised level of 207,000.<\/p>\n Economists had expected jobless claims to inch up to 208,000 from the 206,000 originally reported for the previous week.<\/p>\n Meanwhile, the report said the less volatile four-week moving average crept up to 205,500, an increase of 1,250 from the previous week’s revised average of 204,250.<\/p>\n At 1 pm ET, the Treasury Department is scheduled to announce the results of this month’s auction of $44 billion worth of seven-year notes. <\/p>\n<\/p>\n<\/div>\n