Major U.S. stock indexes ended the week mixed. The S&P 500 and Nasdaq Composite advanced in light trading, while mid- and small-cap benchmarks declined.
Nvidia delivered another exceptional quarter, with fiscal Q2 revenue surging 106% year-on-year. Stronger-than-expected guidance and continued momentum in AI infrastructure spending sent its shares 8.7% higher on Thursday, lifting the broader technology sector.
At Jackson Hole, Fed Chair Kevin Warsh struck a hawkish tone. He argued that the economy remains resilient, financial conditions are not restrictive, and underlying inflation has not improved enough to declare victory. The Treasury yield curve flattened following his remarks, while core PCE inflation came in line with expectations.
Outside the U.S., Europe’s STOXX 600 finished broadly unchanged, while Japanese equities rebounded as oil prices declined. Across markets, the dollar strengthened, oil tumbled, and gold remained caught between short-term monetary policy pressure and the longer-term fiscal-risk premium.
Have a great weekend
Charles & Syz Research Lab