Stocks wrap up winning week even as inflation becomes top of mind for investors
The inflation battle, as well as Nvidia earnings, captured investor attention this past week.
TL;DR
- Federal Reserve Chairman Kevin Warsh expressed concern about the direction of inflation.
- Warsh's comments increased expectations for an interest rate hike at the September Fed meeting.
- Nvidia's second-quarter earnings beat expectations, driving its stock price up.
- Concerns remain about the divergence between AI-related stocks and the rest of the market, leading to market concentration.
- The personal consumption expenditures price index and consumer price index readings indicated sticky inflation.