Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
U.S. stocks ended the week with mixed results as investors balanced renewed optimism over artificial intelligence against rising expectations for Federal Reserve rate hikes. The S&P 500 and Nasdaq Composite were supported by a strong rebound in technology shares following Nvidia Corp. (NASDAQ:NVDA)’s latest results, while investors remained cautious ahead of Fed Chair Kevin Warsh’s closely watched speech at Jackson Hole. The week’s trading was marked by shifting expectations for monetary policy after inflation data remained firm enough to keep the possibility of a September rate increase in focus.
Nvidia was the standout of the week, with its latest results and revenue outlook reinforcing confidence that AI demand remains strong. The chipmaker reported record quarterly revenue of $96.2 billion, up 106% from a year earlier, and forecast $108 billion in revenue for the following quarter, helping revive the broader technology rally. Nvidia’s gains also supported other AI-linked stocks and eased some concerns that massive spending on data centers and AI infrastructure could be losing momentum.
