Nvidia Gains on Strong Outlook; Investors Await Fed Chair Warsh's Speech at Jackson Hole
U.S. stock futures remained largely unchanged ahead of Federal Reserve Chair Kevin Warsh’s speech at Jackson Hole, with attention focused on inflation and interest rate outlooks. Nvidia (NASDAQ:NVDA) shares rose sharply after the chipmaker exceeded revenue expectations, while PayPal (NASDAQ:PYPL) dropped in after-hours trading following reports that takeover talks had ended. Oil prices climbed amid renewed U.S.-Iran tensions. Nvidia’s gains were driven by a strong earnings outlook and its role as a key supplier for AI infrastructure. Meanwhile, the company reportedly paused some financing deals under an AI cloud support program due to potential antitrust concerns. PayPal fell 12.2% after Advent International and Stripe abandoned their $60.50-per-share bid valued at over $53 billion. The market is closely watching Warsh’s remarks for clues about the Fed's stance on inflation, which remains elevated despite recent data showing persistent price pressures.
Topics: Federal Reserve Jackson Hole speech Nvidia oil prices PayPal