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.

Stocks wrap up winning week even as inflation becomes top of mind for investors

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.