Wall Street closed a volatile week mixed, caught between two competing forces: strong earnings reports led by Nvidia that reignited AI investor sentiment, and a hawkish Jackson Hole speech from Federal Reserve Chair Kevin Warsh that reminded investors inflation remains elevated.
Nvidia on Aug. 26 posted $96 billion in revenue for the quarter ending July 26, comfortably exceeding the $92 billion analysts had forecast, and its shares gained 8.74 percent on Aug. 27 as the report rippled through the broader tech sector.
“I would not exaggerate if I said that Nvidia’s report is more important than most others. Because its chips are at the heart of AI development, the company has become a barometer for the entire AI rally,” Arthur Azizov, CEO and founder of B2BROKER Group, told The Epoch Times….