This Week on Wall Street

Wall Street heads into Friday's session, and Fed Chair Kevin Warsh's debut Jackson Hole keynote at 10 a.m. ET, on a strong week for stocks, with the S&P 500 up 0.78%, the Nasdaq Composite up 1.54% and the Dow Jones up 0.36% week-to-date. Thursday's session was the standout: Nvidia surged 8.7% after posting second-quarter revenue up 106% year-over-year and EPS of $2.22, with data-center sales growing 117%, while Salesforce jumped 23% and CrowdStrike jumped 21% on blowout results of their own, powering the Nasdaq to a 1.57% gain even as Technology stood alone as the only S&P 500 sector to advance, with defensive groups like Consumer Staples (-1.5%) and Health Care (-1.1%) lagging. Wednesday's core PCE reading held at a sticky 3.3% annual rate for a third straight month, and Thursday's jobless claims fell to 203,000, below forecasts, keeping the 10-year Treasury yield near 4.66% and the Fed's September rate decision very much in play. Best Buy, Dollar General and Marvell Technology also reported results Thursday, rounding out a busy earnings slate ahead of the long holiday weekend. Markets are now bracing for Warsh's remarks, with strategists flagging 1-3% swings across major assets if he surprises on either side of the policy debate, while gold holds near $4,662 an ounce and WTI crude sits around $81.90 a barrel.