{"id":71902,"date":"2026-09-17T09:08:17","date_gmt":"2026-09-17T13:08:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/nvidia-forecasts-sales-surge-as-us-economic-data-beats-estimates\/71902\/"},"modified":"2026-09-17T09:08:17","modified_gmt":"2026-09-17T13:08:17","slug":"nvidia-forecasts-sales-surge-as-us-economic-data-beats-estimates","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/nvidia-forecasts-sales-surge-as-us-economic-data-beats-estimates\/71902\/","title":{"rendered":"Nvidia Forecasts Sales Surge as US Economic Data Beats Estimates"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>) CEO Jensen Huang projects chip sales will double next year<\/strong>, driving shares up over 2% in <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a> as global AI demand remains relentless.<\/li>\n<li><strong>US Initial Jobless Claims fell to 196K<\/strong>, outperforming the 207K estimate and signaling continued labor market resilience despite recent interest rate hikes.<\/li>\n<li><strong>Brent Crude prices dropped over 3% to approximately $102 per barrel<\/strong> as immediate Middle East supply disruption fears eased following Saudi Arabia&#39;s move to reroute exports via Oman.<\/li>\n<li><strong>The Philadelphia Fed Manufacturing Index beat expectations at 37.8<\/strong>, though it showed a deceleration from August&#39;s robust 47.4 reading.<\/li>\n<li><strong>Canada&#39;s Industrial Product Price Index (IPPI) rose 1.3% in August<\/strong>, driven largely by a 4.0% surge in energy and petroleum product prices.<\/li>\n<\/ul>\n<h2>Nvidia Projects Massive Growth Amid AI Safety Focus<\/h2>\n<p><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>) Chief Executive Officer <strong>Jensen Huang<\/strong> delivered a highly bullish outlook for the AI bellwether on Thursday, stating that the company expects to <strong>sell twice as many chips next year<\/strong> as it did this year. Speaking at an AI summit in Scotland, Huang emphasized that the global demand for advanced hardware shows no signs of slowing, with the company&#39;s flagship <strong>Blackwell<\/strong> and newer <strong>Rubin<\/strong> processors fueling an unprecedented surge in sales through 2027.<\/p>\n<p>Despite the aggressive growth targets, Huang stressed that <strong>AI safety remains paramount<\/strong>, calling it &quot;job one&quot; for the industry. He rejected the notion that safety and innovation are at odds, describing safety as an &quot;engineering problem&quot; that companies must solve before releasing products. Following these remarks, <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> shares rose <strong>2.14% to $218.47<\/strong> in US pre-market trading, as investors shrugged off concerns about a potential AI bubble.<\/p>\n<h2>US Labor and Manufacturing Data Exceed Forecasts<\/h2>\n<p>Fresh economic data from the United States painted a picture of a resilient economy. <strong>Initial Jobless Claims<\/strong> for the week ending September 12 came in at <strong>196K<\/strong>, lower than the 207K expected by economists. <strong>Continuing claims<\/strong> also beat estimates, falling to <strong>1.730M<\/strong> against a projected 1.779M, suggesting that the labor market remains tight even as the Federal Reserve maintains a hawkish stance.<\/p>\n<p>In the manufacturing sector, the <strong>Philadelphia Fed Business Outlook<\/strong> for September posted a reading of <strong>37.8<\/strong>, significantly higher than the <strong>32.1<\/strong> consensus estimate. While this represents a slowdown from August&#39;s &quot;remarkable&quot; <strong>47.4<\/strong>, it still indicates robust expansion in regional business activity. Conversely, the housing sector showed signs of cooling, with <strong>Housing Starts<\/strong> falling <strong>2.6%<\/strong> in August to an annualized rate of <strong>1,275K<\/strong>, missing the 1,320K estimate.<\/p>\n<h2>Oil Prices Retreat as Supply Fears Moderate<\/h2>\n<p><strong>Brent Crude<\/strong> futures fell more than 3% on Thursday, dropping to their lowest levels since September 10. The retreat comes as traders grew more confident that Middle East supply chains could withstand recent geopolitical tensions. <strong>Saudi Arabia<\/strong> reportedly offered additional crude cargoes to Asian refiners via ship-to-ship transfers off <strong>Oman<\/strong>, providing a critical workaround for the damaged East-West pipeline.<\/p>\n<p>The drop in <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> occurred despite a reported drone attack by <strong>Iran-backed Houthi rebels<\/strong> targeting the Saudi city of <strong>Taif<\/strong>. Saudi Civil Defense confirmed that one Yemeni resident was killed and two others were injured by falling debris after the drone was intercepted. While the incident briefly rattled markets, the focus remained on the successful rerouting of oil exports, which helped pull <strong>WTI crude<\/strong> below the <strong>$100<\/strong> threshold to approximately <strong>$99.31<\/strong> per barrel.<\/p>\n<h2>Canadian Producer Prices Surge on Energy Costs<\/h2>\n<p>In Canada, the <strong>Industrial Product Price Index (IPPI)<\/strong> rose <strong>1.3%<\/strong> month-over-month in August, far exceeding the flat growth projected by analysts. The increase was primarily driven by a <strong>4.0% jump in energy and petroleum products<\/strong>, with diesel fuel prices specifically gaining <strong>9.6%<\/strong>. On a year-over-year basis, industrial product prices have surged <strong>13.5%<\/strong>.<\/p>\n<p>The <strong>Raw Materials Price Index (RMPI)<\/strong> also saw a significant spike, rising <strong>3.1%<\/strong> in August compared to July. This was largely attributed to a <strong>22.8% annual increase<\/strong> in raw material costs, reflecting the broader impact of global energy volatility and non-ferrous metal price gains. These figures suggest that inflationary pressures at the producer level remain a persistent challenge for the Canadian economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Nvidia (NVDA) CEO Jensen Huang projects chip sales will double next year, driving shares up over 2% in 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