Oil prices dip 

Oil prices dropped yesterday as markets face their worst month in over a year. As Europe saw natural gas prices rise late last week due to potential strike action at a major supplier LNG in Australia, the winter fears around oil and gas prices are looming. Many investors are also cautiously awaiting speeches due from the Jackson Hole symposium this week, which are likely to give clear indications on the movements of inflation. 

Awaiting NVIDIA earnings 

US-based chip major, NVIDIA, is due to report their earnings later today – a report which is eagerly awaited by the markets. Having seen a whopping 200% growth just this year, and playing a major contributing role in the overall growth of the S&P 500, NVIDIA has grown to have huge influence over the markets. Its earnings could reveal how successful AI projects have been and give indications for investors as to the future prosperity of the sector. 

Retail profits due

Whilst the big news of the day is that NVIDIA is due to report earnings, there are also some key retailers due to announce their profits, forecasts and potential losses for the last quarter today. Amongst the big names are Abercrombie & Fitch, Guess and Foot Locker, who all serve slightly different sectors of the retail market. Their comparative earnings may give indications as to the impacts of inflation and ongoing interest rate hikes. 

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Sources: Reuters, Financial Times, Nasdaq, Bloomberg, IG