August inflation data, updates from top tech firms, and earnings from the original meme stock darling are among the events that could move markets this week. The first look at August inflation—the Consumer Price Index—will show how price pressures are impacting the economy with Federal Reserve officials under pressure to cut interest rates later this month. Investors focused on jobs data to finish last week, during which the S&P 500 and Nasdaq managed gains while the Dow slipped. Apple is expected to unveil several new iPhone models, while Nvidia, AMD, Broadcom, and Meta are among the tech firms set t will deliver presentations at an influential investor conference. Oracle’s quarterly report comes as the cloud provider has closed several big deals, while Adobe’s update will provide a look at AI demand. GameStop’s earnings will show whether momentum remains behind the original meme stock.

August Inflation Data Comes as Fed Eyes Rate Move
The Thursday release of the Consumer Price Index will show whether price pressures continued to hover around current levels in August. The same inflation report showed that prices rose less than expected in July. Federal Reserve officials are broadly expected to make their first interest rate cut of the year after recent jobs data has shown weakening in the labor market—and even as inflation continues to impact the economy. The CPI report will be the last major piece of inflation data before the Fed announces its interest rate decision on Sept. 17.

Apple to Unveil New iPhone; Updates from Nvidia, Oracle, GameStop Due
Apple is expected to unveil the new iPhone 17 at its event on Tuesday, where other models of the phone are likely to be unveiled, including a thin version called the “Air,” along with other “Pro” models.

Several top tech firms will deliver presentations at the annual Goldman Sachs Communacopia + Technology Conference, where investors will hear from Nvidia on Monday, Meta and Broadcom on Tuesday, and Microsoft on Wednesday. Oracle’s earnings report on Tuesday comes as CEO Safra Catz has highlighted the “strong start” to the fiscal year for the tech giant. Graphic software maker Adobe boosted its full-year outlook after its prior earnings report came in better than expected, but investors were looking to see more from the company’s AI offerings.

GameStop’s Tuesday report follows a disappointing quarter for the meme stock after it reported a 17% drop in revenue and announced plans to raise new funding.

What analysts are saying about U.S. stocks
Evercore ISI: “While 2025’s Rollercoaster recovery shares much in common with 1998 kickoff of the Dotcom acceleration, there are important differences. AI adoption has already touched all corners of society and industry, Stock participation in the Bull market is broad, and the Fed is in the midst of a cut cycle, contrasting 1999. Yet “Scares” are a feature of Tech innovation-driven Bull markets – -10% or more pullbacks were frequent in the Internet Bull. We continue to view a near term pullback as base case … and a buying opportunity.”

Morgan Stanley: The weak jobs report supports our view that we’re transitioning to early cycle—from rolling recession to rolling recovery. Near-term risk is tied to whether the monetary policy response is significant enough. Potential choppiness in the short-term should set up a strong finish into both YE & 2026.”

RBC Capital Markets: “Following the weak August jobs report, we think it’s worth noting that if recession fears pick up, a tier 2 or tier 3 decline would be reasonable to anticipate. We think stocks priced in a growth scare in April, but not a recession.”

Yardeni Research: “A rate cut next week, after the FOMC meets Wednesday, is practically a foregone conclusion. Stimulating an economy that doesn’t need stimulation won’t create more workers to address the undersupply that’s constraining the demand for labor, Dr Ed explains. Plus, cutting rates when it’s not necessary could cause stock prices to melt up and destabilize the broader financial system.”