Nvidia Reignites the AI Trade and Lifts the Nasdaq
Thursday's session belonged to semiconductors. Nvidia jumped 8.7% after reporting record quarterly revenue and a stronger,than,expected outlook, and that single stock did most of the heavy lifting for the broader tape. The S&P 500 rose 55.29 points, or 0.7%, to 7,730.99, while the Nasdaq Composite gained 1.6% and the Dow Jones Industrial Average added 0.2%. CNBC, Reuters, WTOP
The move was broad inside tech, not just one stock. The rally spilled into AI,adjacent names as investors took Nvidia's guidance as a fresh read,through on demand for chips, cloud capex and software spending. That matters because the market has been arguing for weeks over whether the AI trade was stretched or just pausing. Thursday said the latter. Investopedia, CNBC
Stocks That Moved: Nvidia, CrowdStrike and the AI Complex
Nvidia was the clear leader after posting blowout results and a revenue forecast that topped Wall Street estimates. Reuters reported the company also highlighted an expansion of its partnership with Amazon Web Services, which helped reinforce the idea that hyperscaler spending is still running hot. CrowdStrike and other software names caught a bid as traders rotated back into high,growth names tied to AI infrastructure and cybersecurity. Reuters, Reuters via The Star
On the other side, the session was less friendly to parts of the market that had led earlier in the month. The Dow's modest gain reflected a flatter performance from industrials, financials and defensives, which did not get the same earnings boost as semis. The takeaway for traders: this was a narrow but powerful risk,on move centered on growth, not a clean, all,sectors rally. Stock Market Watch, WTOP
Jackson Hole Keeps the Bond Market Defensive
Treasury yields ticked higher as investors waited for more from Jackson Hole, where Fed officials kept the inflation conversation alive. The 10,year Treasury yield was around 4.69% in the Fed's latest H.15 release, while the 2,year sat near 4.19%, leaving the curve still relatively flat and signaling that policy is expected to stay restrictive for now. Federal Reserve
Reuters said several Fed officials used the symposium's opening day to warn that inflation is still sticky, and traders are parsing every line for clues on whether the central bank is comfortable holding rates higher for longer. That backdrop is why long duration assets remain vulnerable even on days when stocks rally. The market is still trading the tension between a strong AI,led growth bid and a bond market that refuses to fully price in easier policy. Reuters via U.S. News, Reuters via Yahoo Finance
Gold Stays Elevated, Oil Firm on Geopolitical Risk
Gold remained pinned near elevated levels after a run toward the mid,$4,600s. Reuters reported spot gold eased slightly to about $4,648.90 an ounce as traders took profit ahead of Warsh's Jackson Hole remarks, but the broader trend is still strong and reflects persistent demand for an inflation hedge. USA Today put gold around $4,611.41 per ounce on August 27. USAGOLD, USA Today
Oil also stayed supported. Reuters reported crude firmed as U.S.,Iran diplomatic efforts showed little progress and flows through the Strait of Hormuz remained tight. That keeps an energy,risk premium embedded in the market and gives inflation,sensitive assets another reason to stay bid. For equities, the implication is straightforward: higher energy prices can quickly complicate the Fed narrative and pressure rate,sensitive sectors. Reuters via The Journal Record, Reuters via KELO
Crypto Recoils After the Recent Run
Bitcoin was last around $79,300, after trading between roughly $78,926 and $81,347 over the prior 24 hours, according to CoinMarketCap. Ethereum changed hands near $2,484 to $2,496, depending on the venue, after holding a narrower range than bitcoin. That's not a panic move, but it does show crypto is pausing after a strong stretch and is still sensitive to the same macro forces driving stocks and gold. CoinMarketCap, CoinMarketCap
For traders, the key is whether bitcoin can keep holding the high,$70,000s while equities digest Jackson Hole. If risk appetite cools and yields rise again, crypto is likely to stay choppy rather than lead. If Nvidia's earnings help stabilize growth sentiment, it can keep the bid under digital assets too. CoinGecko, Binance
What Traders Should Watch Today
The big question is whether Thursday's tech rebound can hold after the initial Nvidia euphoria fades. Futures will be driven by follow,through in semis, any fresh bond,market reaction to Jackson Hole, and whether the next round of Fed commentary keeps long yields near current levels or pushes them higher. Reuters, Federal Reserve
- Jackson Hole speeches from Fed officials, with traders looking for any shift in the inflation or rates narrative. Reuters via Yahoo Finance
- Follow,through in Nvidia, CrowdStrike and other AI,linked names after Thursday's surge. CNBC
- Any move in the 10,year Treasury yield around the 4.7% area, which would pressure rate,sensitive stocks. Federal Reserve
- Crude oil headlines tied to Iran, the Middle East and supply risk. Reuters via The Journal Record
- Whether gold can hold above the $4,600 level and whether bitcoin can defend the high,$70,000s. USAGOLD, CoinMarketCap