Federal Reserve Chairman Jerome Powell is set to deliver remarks at the Fed's Jackson Hole conference, drawing investor attention and contributing to cautious optimism as the Vanguard S&P 500 ETF (VOO) edges up 0.3% premarket. Mixed economic data have lowered the probability of a September interest-rate cut to roughly 75%. Alphabet reportedly signed a six-year, $10 billion agreement to provide server capacity to Meta for AI development, lifting both stocks premarket. Nvidia is seeking U.S. permission to export a more powerful B30A AI chip to China and hopes potential revenue from those sales could sway approval. Intuit reported quarterly earnings of $2.75 per share, beating estimates by $0.09.
This article will be updated throughout the day, so check back often for more daily updates. Federal Reserve Chairman Jerome Powell is scheduled to give a speech at the Fed's Jackson Hole conference later Friday. Investors are all ears, and cautiously optimistic Powell might say something positive, and the Vanguard S&P 500 ETF ( NYSEMKT: VOO) is edging up 0.3% premarket in anticipation of that.
In other news, Alphabet ( Nasdaq: GOOG) ( Nasdaq: GOOGL) has reportedly inked a six-year, $10 billion contract to lend its server farms to Meta ( Nasdaq: META) and the latter's artificial intelligence efforts. Word of cooperation between the two internet giants and S&P 500 components has both stocks moving higher premarket. And speaking of artificial intelligence, Nvidia ( Nasdaq: NVDA) is said to be seeking permission from the U.S. government to sell a more advanced AI chip, dubbed B30A, to China.
Collection
[
|
...
]