My top 10 things to watch Thursday, Aug. 22
1. Wall Street is on track for a slightly higher open Thursday after stocks returned to their winning ways in the prior session. The S&P 500 and Nasdaq Composite have now advanced in nine of their past 10 trading days. My trusted momentum indicator, the S&P Short Range Oscillator, is still saying we’re in overbought conditions.
2. James Gorman, former Morgan Stanley CEO and now Disney board member, is taking over the Bob Iger succession planning. Iger came back to Disney as CEO in November 2022 in an urgent move to right the ship. Iger has a contract that runs through 2026.
3. Citi thinks Club name Nvidia can make new highs following next week’s earnings report. The analysts expect the company to reassure investors about Blackwell, its next-generation artificial intelligence chip platform. Nvidia hit a rough patch with the overall market earlier in the month. But shares have been on the upswing over the past couple of weeks.