Nvidia to report, Barkin flags 'reacceleration scenario' - what's moving markets

investing.com:

Investing.com — All eyes are on Nvidia, with the chipmaker and AI darling set to release second quarter earnings after the close of U.S. trading on Wednesday. Meanwhile, Richmond Fed President Thomas Barkin raises the prospect of a «reacceleration scenario» in the American economy as central bankers from around the world prepare to congregate for a key economic symposium this week in Jackson Hole, Wyoming.

1. Eagerly awaited Nvidia results on deck

Earnings season may be gradually winding down, but investors still have major results to examine, including the latest quarterly figures from chipmaker Nvidia (NASDAQ:NVDA).

The California-based company, which manufactures the graphics processors that power generative artificial intelligence, has been at the center of global euphoria around the development of the nascent technology.

Shares in Nvidia have tripled this year, thanks in large part to a stellar forecast in May that propelled the stock's market capitalization to above $1 trillion — a valuation approaching tech industry behemoths like Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL). The announcement initiated a fresh wave of hype around AI's potentially game-changing applications, an excitement that in turn pushed up other Big Tech players and drove a broader stock market rally earlier this summer.

For these reasons, analysts claim that Nvidia's returns and its outlook for the rest of the year could influence the near-term course of not only the AI boom but broader market sentiment.

2. Fed's Barkin warns of 'reacceleration' as Jackson Hole looms

The Federal Reserve must be ready to address a reacceleration in the U.S. economy despite an unprecedented series of aggressive interest rate hikes aimed at corralling