Stocks Stall as Wall Street Awaits Nvidia | Open Interest 8/26/2026

Watch on YouTube ↗  |  August 26, 2026 at 17:18  |  1:29:21  |  Bloomberg Markets
Speakers
Ed Ludlow — Co-Host, Bloomberg Technology
Amanda Agati — Chief Investment Officer, PNC Asset Management Group
Vijay Rakesh — Analyst
Katy Kaminski — Chief Research Strategist, AlphaSimplex Group
Craig Trudell — Reporter, Bloomberg News
Mandeep Singh — Senior Analyst, Bloomberg Intelligence
Norah Mulinda — Market Reporter, Bloomberg
Michael McKee — International Economics & Policy Correspondent, Bloomberg
Salim Ramji — CEO, Vanguard
Mary Cannon — Co-Founder and Co-CEO, CityPickle
Tyler Kendall — Multimedia Editor, Bloomberg

Summary

The show covers a muted US trading session ahead of Nvidia earnings and Jackson Hole. Hotter core PCE data keeps the Fed rate debate alive while Meta settles a teen social media harm case for $16.7 billion. Retail earnings show Kohl's struggling and Abercrombie surging. Guests discuss Nvidia's AI outlook, Treasury yields, oil's macro impact, and Vanguard's acquisition of Altruist.

  • Consumer spending stalls while core PCE comes in slightly hotter than expected.
  • The Fed's preferred inflation gauge fuels hawkish and dovish debates before Jackson Hole.
  • Nvidia earnings are seen as a key test for the AI trade and market leadership.
  • Meta settles a teen social media harm case for $16.7 billion, removing legal overhang.
  • Kohl's reports mixed results while Abercrombie shares surge about 32%.
  • Strategists discuss Treasury yields, oil and geopolitical risk, and equity positioning.
  • Vanguard agrees to buy Altruist, deepening its push into wealth management.
  • Pickleball growth is highlighted as consumers keep spending on hobbies.
Ideas
Ed Ludlow Co-Host, Bloomberg Technology 7:15
Settlement removes Meta's massive legal overhang
Meta's agreement to settle the teen social media harm case for about $16.7 billion removes the potential $1.4 trillion worst-case penalty overhang. The stock de-risks because settling removes a large legal and financial tail risk even though operational and technology changes may still matter.
META HIGH
Craig Trudell Reporter, Bloomberg News 15:11
Kohl's still lacks growth turnaround
Kohl's is showing a bit of guidance improvement but is still a letdown. Under the new CEO the stock had shown signs of life, then lost momentum, and the company has not managed to get back on a track for growth, reflecting a tough competitive retail environment.
KSS MED
Craig Trudell Reporter, Bloomberg News 16:02
Abercrombie brand strength supports shares
Abercrombie & Fitch has managed to grow up with its original customer base, and the Abercrombie brand specifically is strong while Hollister is less so. The shares popped significantly on the basis of that brand strength.
AS MED
Amanda Agati Chief Investment Officer, PNC Asset Management Group 24:32
AI capex still early-to-middle innings
Nvidia's results are all about guidance. She believes AI and data center capex are still in the early-to-middle innings, not late cycle, so the secular growth story remains intact despite the seven-day selloff and valuation concern.
SKYY HIGH
Amanda Agati Chief Investment Officer, PNC Asset Management Group 24:32
AI capex still early-to-middle innings
Nvidia has an Outperform rating and a $300 price target. He expects stronger results, with focus on next year's AI spend and capex where consensus is around $550 billion, but there could be much bigger upside. The next product ramp is about 10 times the performance of prior Blackwell, and memory de-specing could allow about 25% more GPU shipments. Nvidia remains the gold standard despite internal chips at hyperscalers.
NVDA HIGH
Amanda Agati Chief Investment Officer, PNC Asset Management Group 25:00
AI valuations now a short-term headwind
If Nvidia delivers another strong quarter but the stock fails to rally, it shows valuations are becoming a short-term headwind because investors are more price-sensitive and are questioning return on invested capital after hundreds of billions of dollars of AI spending.
AI trade MED
Katy Kaminski Chief Research Strategist, AlphaSimplex Group 50:50
Treasury yields attractive, may rally
Treasury yields at these levels are attractive and likely to see buying pressure. If geopolitical risk in oil fades and the Fed eventually has room to pivot toward lower rates, yields could fall, making this a good buying opportunity for bonds.
TLT MED
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This Bloomberg Markets video, published August 26, 2026, features Ed Ludlow, Craig Trudell, Amanda Agati, Katy Kaminski discussing META, KSS, AS, SKYY, NVDA, AI trade, TLT. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Ed Ludlow, Craig Trudell, Amanda Agati, Katy Kaminski  · Tickers: META, KSS, AS, SKYY, NVDA, AI trade, TLT