* Fed’s Powell set to give key speech on Friday at Jackson Hole summit
* Faltering consumer confidence at core of China’s economic slowdown
* BRICS group invites six nations to join, including Saudi Arabia and Iran
* New US home sales rise to 17-month high in July
* Nvidia earnings soar as AI-fueled demand for its chips drives sales higher
* US business activity slows to a crawl in August via PMI survey data:

Nvidia’s earnings surge is “all about AI demand and use cases,” writes Wedbush analyst Dan Ives. “The rest of tech will see this unprecedented spending wave not seen since 1995 over the coming years but Nvidia is on the front lines and the best barometer of true spending. This is NOT hype.”