US Market Mixed as Nasdaq Outperforms Dow and S&P Amid Nvidia Earnings and Hawkish Warsh Speech

The US stock market closed the week of August 24-29 on a mixed note. The Dow Jones Industrial Average (DJIA) and S&P 500 posted nearly 1% gains each, but the Nasdaq Composite outperformed with a higher increase.

The DJIA ended at 53,559.99, while the S&P 500 index closed at 7,711.76. However, the tech-heavy Nasdaq Composite index declined by 138.93 points or 0.52%, closing the week at 26,402.42.

The market's performance was influenced by Nvidia's earnings and Fed Chair Kevin Warsh's speech at the Jackson Hole summit. In his address, Warsh emphasized the importance of clear market signals for the central bank, stating that 'we need to get policy right' and that 'these and other indicators should inform the Fed's near-term outlook on economic activity and inflation throughout the business cycle.'

Warsh also highlighted concerns about price-stability and commodity prices, noting that 'the recent rise in overall commodity prices also bears watching.' He added that equity market volatility is low, but profits have grown by more than 20% over the past year.