2 big tests ahead will determine if last week's stock market excitement was warranted

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Wall Street takes back-to-back weekly gains and an overbought market into an important week.

Wall Street takes back-to-back weekly gains and an overbought market into an important week featuring Nvidia earnings and the latest reading on the Federal Reserve's favorite inflation gauge. Fed Chairman Jerome Powell on Friday gave the speech from Jackson Hole that investors wanted to hear. The S & P 500 and Nasdaq bounced back from Thursday's losses, and each finished the week up more than 1% .

A television station broadcasts US Federal Reserve Chair Chair Jerome Powell speaking in Jackson Hole, Wyoming, on the floor of the New York Stock Exchange in New York on August 23, 2024.Wall Street takes back-to-back weekly gains and an overbought market into an important week featuring Nvidia earnings and the latest reading on the Federal Reserve's favorite inflation gauge.

 

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