Stocks End Winning Week Amid Inflation Concerns and Strong Earnings from Nvidia
The stock market closed out a winning week despite growing concerns over inflation, as Federal Reserve Chairman Kevin Warsh expressed worries about the direction of price trends in his Jackson Hole speech. The PCE price index rose more than expected in July, adding to investor unease. Expectations for an interest rate hike at the Fed's September meeting increased following Warsh’s remarks. Meanwhile, Nvidia delivered a strong earnings report that helped drive market gains. Its second-quarter results beat expectations and included a revenue forecast of 70% growth by fiscal 2028—well above analyst estimates. The stock surged nearly 9%, ending its streak of post-earnings declines.
Tickers: $NVDA
Topics: Federal Reserve inflation interest rates PCE price index