Nvidia Boosts US Stocks as Investors Await Fed Clarity

Nvidia's strong quarterly results and upbeat outlook propelled the technology sector to become the main driver of the U.S. stock market on August 27.

The company's shares jumped 9% and closed at a record high, while Salesforce rose 23% and CrowdStrike gained 20%.

The S&P 500 gained 0.7%, with the Nasdaq rising 1.6%. However, most other sectors ended the session lower, with the healthcare and consumer staples sectors declining by around 1% each.

Investors are now focused on a speech by Federal Reserve Chair Kevin Warsh in Jackson Hole on August 28, where he is expected to provide clarity on inflation and the Fed's future policy direction.