August 26, 2026 | 08:58 am
TEMPO.CO, Jakarta - Asian stocks are expected to rise on Wednesday, August 26, as falling oil prices ease inflation concerns and push bond yields lower, while investors await Nvidia's earnings for clues about the outlook for artificial intelligence.
According to The Business Times, equity-index futures for Japan, South Korea and Australia gained after chipmakers rebounded, ending Nvidia's seven-session losing streak ahead of its earnings report. On Tuesday, the Nasdaq 100 rose 0.6 percent, while the S&P 500 gained 0.3 percent.
US crude prices extended their decline to around US$81 a barrel as Iran and Oman discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz.
The retreat in oil prices helped push the yield on 10-year US Treasury notes down seven basis points to 4.63 percent on Tuesday. The US dollar also weakened, while gold extended its rally for a sixth consecutive session to trade near US$4,670 an ounce. Bitcoin held around US$78,900.
Lower oil prices provided some relief to US markets after persistent inflation and elevated bond yields had weighed on investor risk appetite.
Three key events are expected to shape markets this week: Nvidia's earnings on Wednesday, the release of the US Personal Consumption Expenditures (PCE) price index and US Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium on Friday.
Nvidia's results are particularly important as investors assess whether the artificial intelligence rally can regain momentum after a recent sell-off in AI-related stocks.
“Although the mountain of event risk is casting a slight shadow over the markets, the easing of geopolitical risks and subsequently lower oil price has been enough to offset the trepidation,” Kyle Rodda, a senior analyst at Capital.com, said.
Nvidia's shares have fallen for seven consecutive sessions, despite a series of strong results from technology companies. Investors have increasingly questioned whether the enormous spending on artificial intelligence infrastructure will generate returns large enough to justify elevated technology valuations.
Analysts expect Nvidia's quarterly revenue to have nearly doubled from a year earlier to about US$92 billion, according to The Business Times. That would exceed the annual revenue generated by many of its competitors and make the results a major test for the sustainability of the AI boom.
“Nvidia is operating on all cylinders and they’re doing absolutely everything correctly at this point,” Mark Malek of Siebert Financial said. “We’re anticipating good news here, but so is everybody.”
Investors will then turn their attention to the Jackson Hole Symposium, where Warsh is scheduled to deliver his first major speech as Fed chair on Friday. Markets will be watching for signals about his assessment of the US economy and the future direction of interest rates.
The latest economic data has added to uncertainty over the Fed's policy outlook. US consumer confidence fell to a seven-month low in August as expectations for business conditions and the labor market deteriorated.
The PCE price index, due Wednesday, will provide another important indicator of US inflation and is closely watched by the Fed in setting monetary policy.
“Consumers are optimistic about today but increasingly nervous about tomorrow,” Jeffrey Roach, chief economist at LPL Financial, said. “Although employment conditions remain solid, fading expectations for income growth may act as a headwind to spending.”
Elsewhere, the Canadian dollar was little changed after Canadian Prime Minister Mark Carney announced retaliatory tariffs against the United States and support for businesses affected by the escalating trade dispute between the two countries.
The Trump administration is considering further trade measures against Canada in response to the retaliation, adding another source of uncertainty for global markets.
Read: Nvidia CEO Says AI Boom Is Far From a Bubble
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