Smart Investor: Warsh Talks Tough, Bitcoin’s Bounce, Top Managers’ Stock Picks

Securities in This Article

This week’s highlights:

After a mid-month swoon, stocks have stabilized not far below their all-time highs, thanks in part to a reprieve in the selloff among long-term bonds. Perhaps just as crucially, the tail end of earnings season has offered more strong numbers for technology stocks, which continue to drive the market.

That included the heavyweight among tech heavyweights, Nvidia NVDA. Going into earnings, Morningstar analyst Brian Colello said he expected another “beat and raise” quarter from the semiconductor giant, and the company delivered. For Colello’s take on Nvidia’s earnings report, check out his note here. And if you missed Monday’s Markets Brief on the big bet your portfolio probably has on semi stocks, give it a read.

The other big event was Federal Reserve Chair Kevin Warsh’s speech at the Kansas City Fed’s annual economic conference in Jackson Hole, Wyoming. Economists were looking to see whether Warsh would clarify his stance on fighting inflation by raising interest rates, since his comments after the last Fed meeting left investors scratching their heads. This time around, they say Warsh was trying to shore up his anti-inflation credentials.