Here are two trades to make ahead of a critical week for markets as Nvidia results and Jackson Hole loom

As markets enter a pivotal stretch, all eyes are on Nvidia’s upcoming earnings report and the Federal Reserve’s Jackson Hole symposium. Both events carry the potential to set the tone for risk assets into the autumn, and strategists at Evercore ISI have outlined two distinct trades to position for either scenario. The firm’s approach highlights the uncertainty facing investors: will the next major catalyst be a hawkish repricing of interest rates, or a renewed rally in technology stocks?

According to Evercore ISI, one trade is designed to hedge against further interest-rate angst—likely benefiting if the Fed signals higher-for-longer policy. The other leans into a possible tech-led bounce, should Nvidia deliver results that reignite enthusiasm for artificial intelligence. These opposing setups underscore how bifurcated market expectations have become, with rate-sensitive sectors and megacap tech pulling in different directions.

For investors, the key is to watch Nvidia’s forward guidance and any signals from Fed Chair Jerome Powell’s speech. Neither trade is a recommendation, but rather a reminder that volatility often spikes around such events. Understanding your own exposure—and the range of plausible outcomes—can be more valuable than predicting the exact move.