Smart Investor: Warsh Talks Tough, Bitcoin’s Bounce, Top Managers’ Stock Picks
We wrap up our coverage of the markets and the week.
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This week’s highlights:
- Market Wrap: Stocks Edge Higher as Technology and Communication Services Rise
- Warsh Sounds Hawkish, but Will There Be a September Rate Hike?
- Nvidia Earnings: Raising Fair Value as AI Buildouts are Accelerating
- Markets Brief: Your Portfolio Is More Concentrated Than You Think
- Why Bitcoin Surged to $80,000, and What May Come Next
- 10 Stocks Top Fund Managers Have Been Buying Amid Market Uncertainty
- What’s Happening in the Markets This Week
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.
While stocks have meandered near their highs, bitcoin has jumped after a nearly 40% drop. What’s driving the cryptocurrency’s bounce, and can it sustain these gains? Valerio Baselli checked in with analysts for their takes.
Lastly, active stock funds have had difficulty navigating the market. Against this backdrop, Susan Dziubinski has updated our screen for the stocks that top fund managers have been buying. It’s been a boatload of tech.
As always, visit our Markets page for our latest coverage, along with our full weekly calendar of key upcoming data and events.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.
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