Ten Stories Moving the Market

Ten Stories Moving the Market:

Nvidia, the chipmaker at the heart of the artificial intelligence boom, raised its sales outlook for fiscal 2028, easing concerns that AI spending is poised to lose momentum – WSJ. (Why you should care – CFO Collette guided for FY2028 revenue growth of 70% compared to the consensus expectation for 45%)

Salesforce lifted its annual revenue and profit forecasts, while rolling out ​a new plug-in combining its capabilities with Anthropic's Claude AI models; the company now expects fiscal 2027 revenue between $46.1 billion and $46.4 billion, compared with its prior outlook range of $45.9 billion to $46.2 billion – Reuters. (Why you should care – the raised guidance should act as a support for the enterprise software space)

CrowdStrike Holdings projected revenue for the full year that exceeded analysts’ estimates, evidence that the cybersecurity industry continues to benefit from AI-fueled demand; the company estimated annual revenue of $5.99 billion to $6.01 billion, also ahead of estimates of $5.94 billion – Bloomberg. (Why you should care – the potential threat of ongoing corporate cyber attacks should boost demand for cybersecurity products)

Qatar's prime minister will visit Iran in an effort to relaunch diplomacy after the U.S. promise ‌to increase economic pressure on Tehran by targeting its trade partners for sanctions – Reuters. (Why you should care – Qatar, alongside Pakistan, had been a back-channel negotiator in the build up to the June memorandum of understanding)

Iranians rushed to buy fuel and food this week, signaling mounting economic pressure as the Trump administration’s threat to tighten sanctions sparked fears of deeper shortages and pain; small demonstrations by labor unions—which had all but disappeared during the war—are popping up across the country. Oil workers, pensioners and teachers have gathered to complain about the declining currency and rising cost of living – WSJ. (Why you should care – these events could increase pressure on the Iranian government to find a solution before the internal strife spirals into something worse)

Amazon will buy an additional 2 million Nvidia graphics processing units to its data center fleet in the next two years, a sign that the company remains committed to the AI hardware leader’s products despite its own competitive chipmaking efforts – Bloomberg. (Why you should care – the commitment speaks to the level of ongoing demand for AI infrastructure products)

The Bank of Korea has raised its benchmark interest rate by 25 basis points to 3 percent, delivering a back-to-back increase amid concerns over inflation and financial stability risks – FT. (Why you should care – global central banks continue to lean in the direction of policy tightening)

Annual U.S. inflation held steady in July well above the Federal Reserve's 2% target for the 65th straight month, and the unexpected pause in the decline from a recent war-induced peak is likely to intensify the central ​bank's debate over whether interest rates should be lifted or held steady – Reuters. (Why you should care – following the oil price driven inflation-growth surge from March through May, the pace of monthly PCE increases has started to slow once more)

Bank of Japan Deputy Governor Ryozo Himino kept the door open to an interest rate increase next month; while speaking to local business leaders in Saitama, he said policymakers should pay more attention to the upside risks of inflation - Bloomberg. (Why you should care – Himino is considered the most hawkish of BOJ policymakers)

China's industrial firms reported slower profit growth in July, with export-focused sectors riding the global AI boom, while industries ​reliant on domestic demand remained under pressure – Reuters. (Why you should care – weak domestic demand and increased trade tensions with Europe and the U.S. continue to weigh on the demand outlook)

Economic Calendar:

Earnings: ADSK, DG, DLTR, MRVL, ULTA, WDAY

Federal Reserve Bank of Kansas City’s Jackson Hole Symposium

Germany – GfK German Consumer Climate for September (2 a.m.)

ECB – ECB Publishes Account Of Monetary Policy Meeting (7:30 a.m.)

U.S. - Initial Jobless Claims (8:30 a.m.)

U.S. - Continuing Claims (8:30 a.m.)

Treasury Auctions $44 Billion in 7-Year Bonds (1 p.m.)

Fed's Balance Sheet Update (4:30 p.m.)