Nvidia Earnings and Jobs Report Spark Market Volatility

Last week's stock action was driven by several key factors, according to CNBC. One major contributor was Nvidia, which saw its shares rise 2% on Friday after a strong earnings report.

The company reported revenue of $8.1 billion and gross margin of 64.4%, beating analyst expectations. Micron Technology also performed well, with its stock up 3.7% after the chipmaker announced it would continue to invest in its manufacturing capacity.

A surprising jobs report was another key driver of market action. The Bureau of Labor Statistics reported that nonfarm payrolls rose by 528,000 in July, exceeding expectations and sparking concerns about inflation.