Market Pulse: Key Triggers to Watch Ahead of the August 28 Trading Session

US markets advanced on strong technology earnings, led by Nvidia, while oil prices declined amid West Asia diplomacy and ongoing Russia-Ukraine tensions. The US has denied that negotiations with Iran are underway.

US Market

Wall Street opened higher on Thursday as strong earnings from Nvidia and other major technology companies lifted sentiment at the start of trade. The Nasdaq Composite gained 0.8%, while the S&P 500 rose 0.4% and the Dow Jones Industrial Average edged up 0.1% in early dealings.

Nvidia shares surged 7% after the chipmaker's results topped analyst forecasts, with the company guiding toward sharply higher revenue growth for fiscal 2028 compared with market expectations. Its second-quarter revenue also more than doubled year-on-year, reinforcing optimism around the artificial intelligence-driven rally in technology stocks. Nvidia is widely viewed as a bellwether for AI infrastructure spending, and its results are closely watched as a gauge of demand across the semiconductor and data-center supply chain.

US Economic Data

The Chicago Business Barometer, or Chicago PMI, is expected at 57.6 for August, compared with 58 previously. The University of Michigan Final Consumer Survey is projected at 55.2 for August, against 51 earlier. Federal Reserve Chair Kevin Warsh is also scheduled to speak at the Jackson Hole economic policy symposium at 10:00 AM. The data and remarks are scheduled for release on August 27. The annual Jackson Hole symposium, hosted by the Federal Reserve Bank of Kansas City in Wyoming, has historically served as a venue for signaling monetary policy shifts, making the chair's remarks a key focus for markets.

US–Iran Conflict

The US said no negotiations are currently underway with Iran, while White House press secretary Karoline Leavitt said "all options remain on the table." Meanwhile, Qatar and Iran discussed a proposed temporary joint shipping corridor through the Strait of Hormuz, along with a project to clear mines from the waterway. The Strait of Hormuz is one of the world's most important chokepoints for seaborne oil trade, and disruptions there have historically affected global crude freight and insurance costs. Pakistan said army chief Field Marshal Syed Asim Munir's talks in Tehran focused on de-escalation, breaking the military deadlock, and finding a negotiated solution to the US-Iran conflict.

Oil Prices Slide

Oil prices extended their decline on Thursday, August 27, as investors weighed diplomatic progress in West Asia against escalating tensions between Russia and Ukraine. Brent crude traded around $87 per barrel, while West Texas Intermediate crude fell 0.7% to $81.67 a barrel, taking its weekly decline to roughly 6%.

Prices came under pressure as optimism grew over navigation through the Strait of Hormuz, while the latest US measures offered sanctions relief to some of Iran's trading partners. Traders will be watching further developments around the proposed shipping corridor and any change in the US stance on negotiations, as these factors have driven the recent swing in crude prices.

FII Selling, DII Buying

Foreign institutional investors (FIIs) were net sellers of ₹298.26 crore in Indian equities on Thursday, August 27, according to provisional data. Domestic institutional investors (DIIs), meanwhile, remained net buyers, purchasing equities worth ₹4,977.17 crore.

The contrasting fund flows highlighted continued DII support for the domestic market even as foreign investors maintained selling pressure. Sustained DII inflows have in recent years helped cushion Indian equities during periods of FII outflows. The figures are provisional and reflect institutional activity during Thursday's trading session.

Source: CNBC-TV18