Warsh Hawkish Warning Slows Equity Rally

Federal Reserve Chairman Kevin Warsh's hawkish warning at Jackson Hole triggered an equity pullback last Friday, but US stocks still ended the week in positive territory.

The Nasdaq led the way higher after Nvidia reported blockbuster earnings, with the AI trade remaining strong. However, precious metals finished at their weekly lows and Treasuries fared poorly.

Cryptos were flat on the week as they digested their impressive gains from the prior week.