Wall Street Gains as Nvidia Reports Record Revenue

Major Wall Street indices ended the week with gains, led by a 0.9% rise in the Nasdaq Composite, while the Dow and S&P 500 both climbed 0.5%. The growth was driven by strong economic data and corporate performance, including updated U.S. GDP figures showing a 1.5% annualized increase from the first to the second quarter of 2026.

Nvidia Inc. reported second-quarter revenue of $96.2 billion, marking a 106% increase year-over-year. The chipmaker forecasted 70% revenue growth for the coming year, attributing the projection to continued spending on AI infrastructure.

At the Jackson Hole Economic Policy Symposium, Federal Reserve Chair Kevin Warsh committed to reducing inflation to the 2% target. Warsh advocated for a "quieter Fed" as the central bank manages these economic targets.