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August 27, 2026 - 00:10
5 minutes
(Bloomberg) — Futures for the tech-heavy Nasdaq 100 Index gained after Nvidia Corp. gave a bullish sales outlook, easing concerns that the artificial intelligence spending boom is losing momentum.Contracts for the US benchmark rose about 1% in early Thursday trading after Chief Financial Officer Colette Kress signaled strong sales growth in fiscal 2028, sending Nvidia shares higher after hours. Asian equity-index futures were mixed, pointing to gains in South Korea and declines in Japan and Australia. An $809 billion exchange-traded fund tracking the S&P 500 fluctuated after the close of regular trading.Still, caution lingered in bond markets as traders boosted bets on a Federal Reserve interest-rate hike this year after a key inflation gauge remained above the Fed’s target. Short-dated Treasuries underperformed in the US session and the dollar rose, with money markets fully pricing an increase by December.Nvidia’s outlook offered fresh evidence that spending on AI infrastructure remains robust, potentially easing concerns that the investment boom is losing steam. The upbeat forecast comes as investors increasingly scrutinize whether heavy AI spending can sustain earnings growth after a volatile stretch for technology stocks.“We expect to grow revenue by approximately 70% in fiscal 2028,” Kress said during a post-earnings conference call. Analysts have projected an increase of about 45% for that year, according to data compiled by Bloomberg.Nvidia shares had fallen at the start of extended trading after the chipmaker forecast current-period revenue of $108 billion, plus or minus 2%. While that topped the $105.2 billion average analyst estimate, some projections exceeded $110 billion, according to data compiled by Bloomberg.The shares then reversed course, climbing more than 5% after Nvidia delivered a bullish sales outlook for 2028.Elsewhere, oil eased in a choppy session as traders weighed progress on diplomatic efforts to resume shipping through the Strait of Hormuz against fresh risks of a global supply squeeze.Investors got a fresh read on inflation Wednesday. The core personal consumption expenditures price index, which excludes food and energy, rose 0.2% from the prior month and 3.3% from a year earlier. Inflation-adjusted consumer spending was flat after gains in May and June.The broader PCE price index rose 3.7% from a year earlier, remaining well above the Fed’s 2% goal. Combined with other data pointing to a cooling economy in July, the figures bolstered the case for policymakers to keep interest rates unchanged for now.Attention now turns to the Jackson Hole Economic Symposium, which begins Friday. Kevin Warsh will deliver his first major speech as Fed chair, giving investors fresh clues on the policy outlook after facing criticism over a lack of clarity on his views about the economy.“The number of dissenters at the next meeting may grow because the month-over-month readings are getting worse, but we believe enough of the FOMC will want to wait to see more data before making a decision to raise rates next month,” said Chris Zaccarelli, chief investment officer at Northlight Asset Management.Corporate Highlights:CrowdStrike Holdings Inc. forecast revenue figures for the full year that exceeded analysts’ estimates, evidence that the cybersecurity industry continues to see demand driven by threats from artificial intelligence. Salesforce Inc. gave an outlook for strong revenue expansion and deepened its partnership with Anthropic PBC, reassuring investors that it can compete successfully in the AI era. Anthropic PBC has agreed to spend $45 billion to rent AI cloud computing power from Nscale’s flagship data center development in West Virginia, the latest move in an effort to secure capacity for its expanding business in advance of going public.Some of the main moves in markets:StocksS&P 500 futures rose 0.5% as of 7:08 a.m. Tokyo time Hang Seng futures fell 0.2% S&P/ASX 200 futures were little changed CurrenciesThe Bloomberg Dollar Spot Index rose 0.2% The euro was little changed at $1.1654 The Japanese yen was little changed at 159.28 per dollar The offshore yuan was little changed at 6.7215 per dollar CryptocurrenciesBitcoin rose 0.5% to $78,813.92 Ether rose 1.3% to $2,504.79 BondsThe yield on 10-year Treasuries advanced two basis points to 4.65% Japan’s 10-year yield was little changed at 2.885% Australia’s 10-year yield advanced one basis point to 5.03% CommoditiesWest Texas Intermediate crude fell 0.5% to $81.83 a barrel Spot gold rose 0.3% to $4,603.51 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
