The week’s main event for the markets is likely to be a speech on Friday by Federal Reserve Chair Jerome Powell.
Americans increased their purchases at retailers last month in a sign that solid consumer spending is still powering a resilient U.S. economy.Another big event for the market will be Nvidia’s profit report scheduled for Wednesday. The chip maker’s stock has exploded higher this year, more than tripling on excitement about tremendous demand due to artificial-intelligence technology.
The earnings reporting season for the spring is winding down for S&P 500 companies. The majority have reported better results than feared, as is usually the case. But that’s done little to help support the stock market. The S&P 500 in August has given back more than a quarter of its big gains from the first seven months of the year.
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