Wall Street Indexes Close Higher Ahead of Major This-Week Events

Here is a look at Wall Street for this week.

On the 26th, the personal consumption expenditures (PCE) price index for July will be released, and Nvidia's second-quarter earnings will be unveiled after the market closes on the same day.

Starting from the 27th, the annual economic policy symposium will be held in Jackson Hole, Wyoming.

Last weekend, the three major U.S. stock indexes all closed higher.

Both the Nasdaq and the S&P 500 gained around 0.43 percent.

This week, major events that will determine the direction of global financial markets are lined up one after another.

First, the U.S. Treasury Department is scheduled to announce large-scale economic sanctions on Iran on the 24th, and on the 26th, the core personal consumption expenditures (PCE) price index for July—the inflation gauge most trusted by the Federal Reserve—will be released.

While prevailing analyses suggest that inflation growth is recently slowing down, any figures exceeding expectations could reignite concerns over prolonged tightening.

On the same day, the revised second-quarter gross domestic product (GDP) figures will also be made public.

Following that, after the market close on the same day, earnings reports will be released for Salesforce along with Nvidia, the leading AI stock.

Amid mixed expectations regarding capital burdens and earnings for mega-cap cloud companies recently, Nvidia's upcoming earnings report will serve as a major watershed determining the general trajectory of tech stocks.

In addition, at the Jackson Hole Symposium running for three days starting from the 27th, central bank chiefs from various countries will gather to discuss interest rate cuts and the direction of monetary policy.

In particular, attention is focused on whether any hints regarding the future interest rate path will emerge from the keynote speech by Federal Reserve Governor Kevin Warsh on the 28th.

With the release of the University of Michigan consumer sentiment index also scheduled for the 28th, investors will need to closely monitor economic indicators through the end of the week.
※ Please note: This article was translated by AI and may contain errors.