Following Powell's most recent speech last Friday at the economic symposium in Jackson Hole and the related fantasies of interest rate cuts, investors have generally taken things a little easier.
The past few trading days have been characterized in particular by the eagerly awaited quarterly figures from NVIDIA. This Friday, investors are also likely to be looking forward to the publication of important US price data.
DAX 40
Source: TradingView
After Powell speech in Jackson Hole: interest rate cut fantasies in the USA recede again somewhat
At the beginning of the trading week, the fantasies of interest rate cuts promoted by Fed Chairman Jerome Powell gave way to a more sober approach. Powell had shown himself to be open to a possible reduction in the key interest rate and triggered euphoria in the meantime. In his speech, he referred to the growing risks for the labor market. At the same time, he emphasized the danger of persistent inflation.
Ifo index picks up surprisingly - but current situation assessed slightly worse
The ifo Business Climate Index rose to 89.0 points in August 2025 after 88.6 points in July. The increase was due to companies' improved expectations, it said. However, the current situation was assessed as slightly worse. The Munich-based institute surveys around 9,000 managers every month.
US GDP stronger than expected
The figures on the development of US gross domestic product caused a stir on Thursday afternoon. The economy in the United States grew more strongly in the spring than previously reported. GDP increased by an annualized 3.3 percent from April to June, according to a second estimate by the Department of Commerce. The previous estimate had been 3.0 percent. The increase was due to a fall in imports and a rise in consumer spending.
Focus on German inflation and US price data
Investors should keep an eye on the preliminary inflation data for the Federal Republic of Germany at 14:00.
The core rate for personal consumption expenditure (price index) is on the agenda from 14:30.
The week closes with new consumer confidence data from the University of Michigan (16:00).
NVIDIA continues to benefit from demand for artificial intelligence (AI)
NVIDIA's (ISIN: US67066G1040) quarterly revenue rose by 56% year-on-year to 46.74 billion dollars. Even though the AI chip manufacturer's results fell short of expectations, they are likely to have confirmed that infrastructure spending in the AI sector remains high.
Due to the trade uncertainties between the United States and China, potential sales with the Middle Kingdom were excluded from the quarterly forecast.
NVIDIA
Source: TradingView
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Source: TradingView
