U.S. futures are mixed in pre-market trading, while global shares are edging higher. Investor sentiment is lifted by recent soft U.S. retail sales data, which has lowered expectations for a Federal Reserve rate hike in September.
Stocks to Watch: * NVIDIA Corporation: Partnered with financial giants to mobilize over $500 billion for AI infrastructure, signaling massive investment in the booming AI sector. * Exxon Mobil Corporation: Oil prices surged to $88.62/barrel (Brent) due to Strait of Hormuz tensions, boosting the energy sector outlook amid inflation fears. * Walmart Inc.: Under pressure after July US retail sales fell 0.6%, with investors keenly watching its upcoming earnings for consumer spending insights. * Micron Technology, Inc.: Bank of America projects the company's earnings to explode 34% annually, driven by robust demand in the expanding AI memory market.
Looking ahead, the economic calendar is light today. Traders will monitor the New York Fed manufacturing data this morning for further clues on the economy's direction.