Traders work on the floor of the New York Stock Exchange during opening bell in New York City on August 21, 2023.
Angela Weiss | AFP | Getty Images
The S&P 500 and Nasdaq managed to close higher for the week despite a pretty sharp pullback on Thursday ahead of Federal Reserve Chairman Jerome Powell’s speech at the annual central bank summit in Jackson Hole, Wyoming on Friday morning. The Powell address proved to be pretty uneventful but not before completely overshadowing blowout earnings from Nvidia, possibly the most anticipated release of the season. The Dow Jones Industrial Average, on the other hand, closed lower for the second straight week.