Morning Report 29 Aug 24: Wall Street tumbles as investors brace for Nvidia results

Wall Street retreats as investors eagerly await Nvidia's earnings figures, while Australian shares are set to fall amid declining commodity prices. OpenAI is in talks to raise funding, which would value the company at $100 billion. Meanwhile, Warren Buffett's Berkshire Hathaway has reached a market value of $1 trillion. U.S. retail shares, including Lululemon, PVH, and Foot Locker, are under pressure as the economic outlook deteriorates. Locally, the earnings season is winding down, with previews from Wesfarmers and Mineral Resources.

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