Nvidia, let’s see what you’ve got: World market themes for the week ahead

) and key inflation numbers in the euro area and Australia should keep markets busy in the coming week.

Investors’ reaction to disappointing results from megacap names such as Alphabet and Tesla last month suggests markets may not be in a forgiving mood, especially when valuations for many companies in the sector are stretched. Any upside surprises may warrant caution, as traders have ramped up ECB rate cut bets in recent weeks. Focus has turned to growth risks, but euro zone business activity showed surprising strength in August.

Investors are also hoping that Wednesday’s data could provide some relief to consumer sentiment, which has taken a hit from the weight of steep borrowing costs. Germany’s business activity contracted by more than expected in August, a negative sign for Europe’s economic engine, while euro zone wage growth slowed last quarter, supporting the case for an ECB September cut.

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