U.S. stock futures were broadly steady on Friday after Nvidia (NASDAQ:NVDA) shares rallied following the chipmaker’s latest results, while investors turned their attention to Federal Reserve Chair Kevin Warsh’s scheduled speech at Jackson Hole.

S&P 500 futures were flat, Nasdaq 100 futures declined 0.3% and Dow futures gained 0.2%.

Elsewhere, PayPal (NASDAQ:PYPL) fell sharply in after-hours trading following a report that potential buyers had ended takeover discussions, while oil prices moved higher amid renewed uncertainty surrounding U.S.-Iran relations.

Nvidia gains following revenue outlook

Nvidia shares rose 8.7% on Thursday after the company issued a revenue outlook that exceeded expectations.

The move coincided with gains across major U.S. indices. The S&P 500 advanced 0.7%, the Nasdaq Composite rose 1.6% and the Dow gained 0.2%.

Nvidia is a major supplier of chips used in artificial intelligence infrastructure, making its results relevant to companies investing in and operating AI data centres.

Investors await Warsh speech at Jackson Hole

Attention on Friday turned to Warsh’s keynote address at the Federal Reserve’s annual symposium in Jackson Hole, Wyoming.

Investors are looking for indications of the central bank’s assessment of persistent inflation and the outlook for interest rates.

Recent data have continued to show elevated price pressures, while Treasury yields have remained high amid concerns about inflation, government borrowing and monetary policy.

Warsh’s comments could influence expectations for the future path of U.S. interest rates, although the direction of any market response will depend on the content of his remarks.

Nvidia reportedly pauses some AI financing deals

Separately, Nvidia has paused some transactions under a financing programme intended to help AI cloud companies purchase its chips, according to The Wall Street Journal.

The programme was announced less than two months ago and provided credit support to AI cloud companies in exchange for a portion of their revenue.

According to the report, some Nvidia employees raised concerns about potential antitrust scrutiny. The precise reason for the pause has not been established in the source material, and Nvidia could still modify the programme.

Nvidia has previously defended its investments in AI companies that also purchase its products. Chief Executive Jensen Huang has argued that AI start-ups require unusually large amounts of capital.

PayPal falls after reported takeover talks end

PayPal shares declined 12.2% in after-hours trading after a consortium led by Advent International and Stripe ended its pursuit of the payments company, according to Bloomberg.

The consortium had reportedly offered $60.50 per share, valuing PayPal at more than $53 billion.

According to the report, PayPal’s board considered the proposed price insufficient and also identified regulatory and financing considerations.

Takeover speculation had contributed to PayPal’s recovery from its 52-week low of $38.46 after reports of discussions emerged in July.

Oil rises amid renewed U.S.-Iran uncertainty

Oil prices increased following a report that the Trump administration had informed mediators that it was no longer interested in returning to a June memorandum of understanding with Iran.

The agreement signed by President Donald Trump at the Palace of Versailles had established a framework for reopening the Strait of Hormuz and beginning negotiations concerning Iran’s nuclear programme in exchange for sanctions relief and access to frozen Iranian assets.

According to The Wall Street Journal, Washington has subsequently moved towards a policy of maximum economic pressure and is not seeking to revive the agreement.

Brent crude moved above $88 per barrel following the report.

Developments affecting the Strait of Hormuz remain relevant to energy markets because of the waterway’s role in global oil shipments. Sustained changes in crude prices can also affect inflation expectations and, consequently, market expectations for monetary policy.

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