Markets enter a defining week following Friday's dramatic turnaround that saw the S&P 500 ($SPX) (SPY) and Dow hit new highs after Fed Chair Jerome Powell's game-changing Jackson Hole speech declared that conditions "may warrant" rate cuts. The market rally struggled for much of last week, particularly hitting Nasdaq and growth stocks hard, before Powell's dovish pivot triggered a powerful Friday rebound that lifted indexes and leading stocks from or above key technical levels. The key question facing investors is whether Friday's growth stock resurgence represents a sustainable reassertion of market leadership or merely a one-off relief rally, with defense plays having shown relative strength during the week's volatility but finishing with more muted gains. Wednesday's Nvidia (NVDA) earnings and guidance will serve as the ultimate test for both the market rally's sustainability and which sectors will lead going forward. The week also brings Friday's Core PCE Price Index alongside Q2 GDP revisions and a packed earnings calendar featuring cloud computing and AI infrastructure companies.
Here are 5 things to watch this week in the Market.
