Wednesday preview: US GDP, Nvidia in focus

(Sharecast News) - Investors' focus in the middle of the week will be on a preliminary reading for second quarter GDP growth in the US. America´s economy is expected to have expanded at a 3.1% quarterly annualised clip.

Also due out are figures for initial weekly jobless claims and pending home sales.

In the euro area, money supply growth data for July will be out at 0800 BST, followed by the European Commission's economic confidence index for August at 0900 BST.

On the corporate side of things, after the US close chip-making giant Nvidia is due to release its second quarter results.

They will arrive with shares in the more than $4trn market-cap firm trading just off their record highs.

Management's guidance for the latest quarter was for revenues of $45bn +/-2%, while gross margins are expected to improve to 72%.

As City analyst Michael Hewson notes, incorporated into that guidance were new US restrictions on sales of chips overseas, which were expected to subtract around $8bn from the topline.

Wednesday 27 August

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INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

GFK Consumer Confidence (GER) (07:00)