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Nvidia earnings — not Powell's speech — will be the big catalyst to end summer, Bank of America says

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Stocks were up on Monday, but may be getting a bit ahead of themselves before Powell's speech.

Nvidia is on investors' minds as an eventful summer comes to a close. The big market catalyst to cap a remarkable month will be the AI chipmaker's earnings results next week, not Federal Reserve Chair Jerome Powell's speech at Jackson Hole, according to Bank of America. Nvidia reports next Wednesday, Aug. 28, while Powell speaks this Friday, Aug. 23.

mountain Nvidia Nvidia's earnings results should instead serve as the next big catalyst for the AI bellwether, as well as the broader market, especially as investors pay more attention to growth than they do inflation. "Growth is in the driver's seat. While the Fed is unlikely to 'out-dove' the market at Jackson Hole, as long as growth is OK, equites can withstand a less-dovish Fed," Kwon wrote.

 

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