August 29th 2023 Weekly Economic Update

Linda Migliazzo |

Overall, we saw US Market Indices increase this week for what’s felt like the first time in a while. There were 2 things that had the largest impact on short term market volatility and each of them faired pretty well; NVDA Earnings and Fed Chairman Powell’s conversation at Jackson Hole on the current state of inflation and interest rates. NVDA on paper beat earnings & revenue by a large margin, revealed a share buyback program, and had good forward guidance for the future. Chairman Powell’s commentary Friday was very unchanged. His camp is neither excited nor worried about the future. They are staying very neutral at this point in time on commentary.