Stocks higher, Nvidia earnings, Peloton, UPS labor deal, Subway sale

^{Five things you need to know before the market opens on Wednesday August 23:}

1. -- Stocks higher, dollar rebounds with Nvidia earnings, Powell speech in focus

The first of the week's two key events, chipmaker Nvidia's second quarter earnings, will fall later today as markets look to reverse a moribund August performance.

2. -- Nvidia earnings on deck as markets look to separate AI reality from hype

Nvidia, the AI chip market 'kingmaker' will publish both its second quarter earnings and crucial near-term sales outlook after the close of trading. 

3. -- Peloton earnings to highlight cost cuts, cash flow gains as sales slide

Peloton's cost-cutting effort, as well as its shift to focus on connected fitness memberships over sell new equipment, will be the focus of its second quarter earnings.

4. -- UPS shares nudge higher after reaching crucial labor pact with Teamsters

UPS and the Teamsters have agreed a five-year labor deal that will pay some veteran drivers as much as $175,000 a year.

5. -- Jimmy John's owner Roark Capital nears $9.6 billion deal to buy Subway

Roark Capital, the owner of the Jimmy John's sandwich chain, is reportedly the front-runner in a $9.6 billion battle to buy Subway.