Nvidia Soars as Fed Hawks Take Center Stage at Jackson Hole

The S&P 500 futures remained steady near flat on Friday as traders held their positions before Fed Chair Kevin Warsh's Jackson Hole address. The benchmark index gained 0.7% to 7,730.99 on Thursday, nearing its record high.

Nvidia was the standout performer after beating estimates and forecasting a 70% revenue growth next fiscal year. Its stock rocketed 8.7%, adding nearly $456 billion in market value and matching the entire index's $482 billion increase.

Technology stocks continued to drive the market, with Salesforce surging 22.6% as Agentforce growth challenged fears that AI would destroy traditional software. The S&P 500's technology sector surged 3.4%, while only 171 constituents actually advanced.