Source: Charles Schwab, data from 8/24 – 8/28

Weekly Market Minute

“The big money is not in the buying and selling, but in the waiting.”
— Charlie Munger

🧭 This Week In the Markets

Image Source: Andrew Harnik/Getty Images

NVIDIA Jumps 9% as Strong AI Demand Outlook Reassures Investors

Nvidia shares rose nearly 9% on Thursday, adding approximately $440 billion in market value, after the chipmaker’s outlook reinforced confidence that artificial intelligence demand remains strong. Nvidia expects revenue growth of 70% in fiscal 2028, with CEO Jensen Huang indicating underlying demand is even stronger but remains constrained by available supply. The company also showed broader adoption beyond major hyperscalers, with AI cloud, industrial, and enterprise customers generating $40.3 billion in quarterly sales, up 138% year over year. The results have helped ease investor concerns surrounding elevated AI spending and the potential return on those investments.

Warsh Signals Inflation Remains the Fed’s Primary Focus

Federal Reserve Chair Kevin Warsh expressed concern about persistent inflation during his closely watched Jackson Hole speech on Friday, noting that while recent inflation readings have been better than expected, underlying trends have not improved enough to assure policymakers that inflation is moving sustainably toward the Fed’s 2% target. Warsh also expressed confidence in the broader economy, pointing to resilient consumer and business spending and potential productivity benefits from artificial intelligence, while acknowledging a slowdown in hiring. He stopped short of signaling the Fed’s next interest-rate move, emphasizing instead that future policy decisions will depend on evolving economic conditions and that the Fed intends to give less on explicit forward guidance to markets.

PCE Report Shows Persistent Price Pressures

The Federal Reserve’s preferred inflation gauge showed that price pressures remained elevated in July, with the headline Personal Consumption Expenditures (PCE) Index rising 0.2% for the month and 3.7% from a year ago, slightly above expectations. Core PCE, which excludes food and energy, increased 0.2% in July and 3.3% year over year, in line with forecasts. Goods prices declined modestly, supported by lower energy costs, while services inflation remained firmer, led by financial services, insurance, and housing. The report reinforces the Fed’s challenge as inflation remains above its 2% target despite relatively subdued readings in recent months.

🏢 Corporate Earnings

• NVIDIA (NVDA) surpassed fiscal Q2 expectations, reporting adjusted earnings per share of $2.22 on revenue of $96.22 billion compared with estimates of $2.10 per share and $92.17 billion, respectively. The strong results were driven by continued growth in AI infrastructure demand.
• Salesforce (CRM) beat second-quarter expectations, reporting adjusted earnings per share of $5.90 on revenue of $11.35 billion compared with estimates of $3.27 per share and $11.32 billion. Results were supported by continued AI momentum, with annualized revenue from Agentforce AI products up 240% year over year.
• CrowdStrike Holdings (CRWD) slightly topped fiscal Q2 revenue expectations, reporting adjusted earnings per share of $0.31 on revenue of $1.47 billion with estimates of $0.29 per share and $1.44 billion, respectively. These results were supported by rising demand for AI-related cybersecurity.

📊 Sector Performance

5-day closing price ($) and change (%)

Source: Select Sector SPDRs, data based on the Sector SPDR ETFs as of 8/28

Latest from EMW

Brooke May, CFP on Bloomberg Businessweek 8/28/2026
Higher rates don’t necessarily mean it’s time to step away from equities. It might mean investors should be more selective, though. Brooke joined Bloomberg to discuss why we’re maintaining a wait-and-see approach as markets weigh another possible rate hike following Fed Chair Kevin Warsh’s comments at Jackson Hole.

Brooke May, CFP on Bloomberg Open Interest 8/27/2026
It was a good morning for AI investors. With the latest headlines, we’re seeing AI investment translating into real business value. Companies are beginning to report tangible efficiencies from AI adoption, and the demand continues to grow.

Michael Overbeck Passed SIE Exam
We’re continually impressed by Michael’s commitment to keep learning and deepening his knowledge and capabilities. We’re so glad to have him on our team!

Team Photo Day Behind-The-Scenes
Come behind the scenes with us for team photo day! We’re so grateful to see our team continue to grow and for Roben’s (Bellomo Studios) talent in capturing our team’s personality year after year.

📰 Dollars & Sense: This Week’s Rapid Read

August apartment rents turn positive for the first time in four years
Apartment rents are still 0.8% lower compared with August of last year, but that drop is shrinking. The national median monthly rent now stands at $1,390, down $11 compared to August 2025.

Source: CNBC

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Sources: CNBC, CNBC, CNBC
Corporate Earnings: Nvidia, Salesforce, CrowdStrike Holdings

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