This past week saw a mix of economic data and corporate earnings that drove market sentiment.

In brief:

Mixed Results from Australia's August Earnings Season: While the banking sector showed strong performance despite some scepticism about valuations, mining and energy companies faced significant challenges. Meanwhile, consumer spending remained robust in some areas, but there were signs of caution in the services sector, highlighting the uneven economic landscape.

Nvidia's Earnings Disappoint Despite Strong Results: Nvidia's earnings report, one of the most anticipated this season, exceeded expectations by doubling sales and earnings from a year ago. However, the stock still saw a sell-off, reflecting investor concerns about the sustainability of AI infrastructure spending. 

Global Economic Signals and the Upcoming August Jobs Report: With signs of both resilience and slowdown in global markets, all eyes are on this Friday's August jobs report. It could be pivotal in determining the Federal Reserve's policy direction and the market's trajectory for the rest of the year. Investors are hoping for a "Goldilocks" reading that indicates a gradual labour market slowdown without signalling an imminent downturn.

Get access to the charts: www.investsense.com.au/industry-articles/august-reporting-season-the-misses-and-beats  


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