Dow Jones, S&P 500, Nasdaq: „Nvidia hält die Party am Laufen. Aber die Musik spielt jetzt in Jackson Hole" – Wall Street öffnet uneinheitlich

Investors await the next trading highlight this week on Wall Street, with the major indices opening almost unchanged. The Nasdaq leads the way, gaining 0.7% to sit at 26,300 points. The Dow Jones remains steady at 53,464 points, while the S&P 500 shows minimal movement, opening at 7,695 points. The Nasdaq 100, comprising non-financial companies with the highest market capitalization, is up 0.8%, at 29,345 points.

Market participants are primarily looking ahead to the banking forum in Jackson Hole, which begins on Thursday. The three-day meeting focuses on "financial innovation." Federal Reserve Chair Kevin Warsh will deliver a speech on Friday, addressing key economic issues amid high inflation and recent layoffs in the US labor market. Warsh's approach is more concise than his predecessors, with limited communication about monetary policy.

Investors will closely monitor his comments for clues about the September interest rate decision. The number of initial unemployment claims in the US fell to 203,000, lower than economists anticipated. The labor market remains strong, even though July's jobs report was weak. The Federal Reserve has a dual mandate to ensure price stability and full employment, targeting a 2% annual inflation rate.

If inflation exceeds this target, the Fed may raise the key interest rate, but only if it doesn't excessively burden the economy and labor market. The Fed has kept the benchmark rate well above its target range of 3.5-3.75% despite high inflation. Analyst Jürgen Molnar from Robomarkets sees the Jackson Hole meeting as the most important event, but also notes the growing tech sector.

Nvidia, the largest chipmaker, continues its rally, with the company projecting a 70% revenue growth for the next fiscal year and ahead-of-street earnings for the current quarter. Nvidia's stock is up about 7%, and other chip stocks are rising as well. Nvidia's decision to provide a full-year outlook for the first time in its history is seen as a sign that the AI growth boom is still intact.

However, concerns about limited supply and rising memory costs could dampen growth. Maximilian Wienke, an analyst at etoro, warns of potential risks, including supply chain bottlenecks and increasing memory costs putting pressure on margins. Nvidia is reportedly in talks to acquire the leading AI platform Hugging Face, valued at over $13 billion, according to Business Insider.