Wall Street: Reaktionen auf Quartalszahlen, Warsh-Rede in Jackson Hole

Wall Street began trading cautiously following a strong rally in the technology sector. The focus shifted to Federal Reserve Chairman Kevin Warsh and his speech at 4 PM CET in Jackson Hole. The key question is how Warsh interprets recent inflation data and if he provides clues about the future interest rate trend. Meanwhile, the situation surrounding Iran remains a source of uncertainty, as diplomatic progress has stalled while talks about reopening the Hormuz Strait continue. The US Central Command confirmed that the Strait is now free of mines.

Reactions from companies to the numerous quarterly results were mixed. Chipmaker Marvell increased revenue by 37 percent to $2.74 billion and its cloud computing business by 46 percent. However, numbers and forecasts could not surpass the high bar set by Nvidia. Financial services provider Affirm impressed with a 36 percent increase in payment volume and an outlook that surpassed expectations. Retailer Ulta Beauty reported profits and comparable sales that exceeded forecasts, while also raising its annual outlook.

The software sector mostly received constructive signals. Autodesk delivered a strong beat-and-raise, while Workday excelled in terms of profit but had a mixed outlook. PayPal brought some relief to the market, as Stripe and Advent abandoned their takeover plans, as reported by Bloomberg. In terms of press, Druck benefited from PayPal's positive performance after Stripe and Advent dropped their acquisition plans.