MARKET RECAP → Stocks shook off initial jitters following Jerome Powell’s largely unalarming Jackson Hole speech Friday morning, with all three major indexes finishing the day in the green. Nvidia (NVDA) gave back some of its gains spurred by a strong earnings report earlier this week… nonetheless, the popular AI beneficiary remains up over 220% year to date.
POWELL TOES THE LINE AT JACKSON HOLE → Fed Chair Jerome Powell gave his highly anticipated speech where investors were looking for signs that might change market expectations of a change in monetary policy (i.e., more rate hikes) … Powell didn’t really give a strong indication to rattle current expectations, and he aptly concluded “As is often the case, we are navigating by the stars under cloudy skies.” AFFIRM STOCK POPS → Shares of “buy now, pay later” (aka “BNPL”) player Affirm (AFRM) rose as much as 30% in Friday trading on the heels of a well-received earnings report after the close on Thursday. |
