It was a week of two very different stories colliding. On one hand, Nvidia delivered a blowout earnings surprise that lifted the entire stock market to its first weekly gain in three weeks. On the other, a hawkish speech from the Fed chair on Friday reminded everyone that the inflation fight isn't over — and Bitcoin quietly kept climbing through it all, extending one of its best two-week runs on record. Here's a friendly, easy-to-follow breakdown of everything that mattered this week, complete with charts, tables, and a quick summary for anyone short on time.

📊 How the Major Indexes Closed

Index	Friday Close (8/28)	Weekly Change	Notes
S&P 500	7,711.76 pts	🟢 +0.5%	First weekly gain in three weeks; still stuck in a two-week trading range
Nasdaq Composite	26,402.42	🟢 +0.9%	Driven largely by Nvidia's earnings surprise
Dow Jones Industrial Average	53,559.99	🟢 +0.5%	First positive week in three weeks

👇Here's a simple way to picture the week's shape:

All three major indexes managed to close the week higher, snapping a two-week losing streak, largely thanks to Thursday's Nvidia-fueled rally. But Friday brought a reality check: Fed Chair Kevin Warsh's hawkish tone at the Jackson Hole symposium wiped out a chunk of the week's gains, and the S&P 500 remains boxed in — still unable to break decisively out of its recent trading range.

🏆 This Week's Best and Worst Sectors

Rank	Sector	Weekly Change	What Drove It
🔺 Best	Communication Services (XLC)	+1.4%	Salesforce jumped 22% for the week after strong AI product adoption (Agentforce, Data 360) drove an upbeat earnings report, lifting the entire sector
🥈 2nd Best	Information Technology (XLK)	+1.3%	Nvidia's Thursday earnings surprise (+8.7%) pushed the sector up, though weakness in Marvell (down roughly 8%) and Applied Materials (down roughly 5%) limited the gains
🔻 Worst	Healthcare (XLV)	−2.0%	The only sector with a clearly weak week, finishing dead last among all 11 sectors
🔻 Also Weak	Energy (XLE)	Down	Oil prices fell about 5% for the week as expectations of improved shipping through the Strait of Hormuz and Oman offset new Iran-related sanctions news

It's worth noting that only 3 of the 11 major sectors finished the week higher, and fewer than half of all individual stocks in the market posted gains — a sign that this rally was fairly narrow, powered by a handful of large names rather than broad market strength.

🔑 The Big Stories in Stocks This Week

1. Monday: Semiconductors and 2026's Winners Take a Hit

New Iran-related sanctions news triggered a sharp semiconductor selloff that dragged the broader market lower. Ironically, the very stocks that had led 2026's rally so far were among the worst performers of the day — the top 10% of best-performing stocks this year fell an average of 1.6%, and 19 of the 20 biggest year-to-date winners dropped, averaging a 2.7% decline. SanDisk tumbled more than 7%, while Micron and Western Digital both fell more than 5%. Analysts pointed to the semiconductor ETF (SOXX) having rallied into a key resistance level the previous week before sharply reversing — this week's selloff looked like the continuation of that pullback.

2. Wednesday: Inflation Still Running Hot

July's headline PCE inflation index rose 3.7% year-over-year, and the Fed's preferred core PCE measure came in at 3.3% — matching expectations, but still well above the Fed's 2.0% target. On the same day, the final reading for second-quarter GDP confirmed 1.5% annualized growth, unchanged from the preliminary estimate but a clear slowdown from the first quarter's 2.1%.

3. Thursday: Nvidia's Earnings Surprise Sparks a Rally

Nvidia delivered what can only be described as a blowout quarter, posting an earnings surprise alongside a strong sales outlook that sent its stock up 8.7% and pulled the broader market higher with it. The VIX (volatility index) dropped 5% to 14.4, while CNN's Fear & Greed Index sat at a neutral 54. Of the 483 S&P 500 companies that had reported second-quarter results by this point, 86% beat expectations — well above both the prior quarter's 80% beat rate and the historical average of 67%. Second-quarter earnings growth came in at +53%, with full-year 2026 earnings growth now projected at +34%.

4. Friday: Jackson Hole Turns Hawkish

Fed Chair Kevin Warsh, delivering his first keynote address at the Jackson Hole symposium, stated that inflation remains "too high" and that price stability will be the Fed's top priority going forward. Markets reacted quickly: the probability of a rate hike at September's meeting jumped to 57%, according to trader positioning. Short-term Treasury yields rose in response, and the S&P 500, Nasdaq, and Dow all gave back their morning gains to close lower.

• PayPal shares plunged 16% in pre-market trading after news broke that Advent International and Stripe had withdrawn their acquisition bid.

5. Individual Stock Highlights

• Salesforce surged 22% for the week after raising its annual revenue and profit guidance, driven by accelerating adoption of its AI products, Agentforce and Data 360 — making it one of the week's top-performing stocks.
• Marvell Technology fell 8–10% despite posting strong earnings and raised guidance, dragging down sentiment across the broader semiconductor sector.

🪙 This Week in Bitcoin & Crypto

👇Weekly Price Snapshot

Asset	As of 8/27	7-Day Change
Bitcoin (BTC)	~$80,000–$80,800	🟢 ~+9.7%
Ethereum (ETH)	~$2,510	Roughly flat, modest swings
Solana (SOL)	—	🟢 Jumped +6.89% on Thursday alone

👇Here's a simplified visual of Bitcoin's climb through the week:

👉Riding the Wave of Last Week's Historic Surge

According to Galaxy Research, Bitcoin posted its largest-ever weekly dollar gain the previous week (8/16–23), climbing $14,775 (+23.5%). This week's roughly 9.75% seven-day gain extended that momentum, pushing Bitcoin from around $73,525 three months ago up into the $80,000–$80,200 range. The rally's spark point was traced back to a Treasury announcement on August 19 about expanding its bond buyback program, with a subsequent short squeeze and steady ETF inflows helping sustain the move. What stood out this week was a clear decoupling between asset classes: even as stocks slipped, both Bitcoin and gold held their ground and pushed higher.

👉Testing the $80K Range — The 50-Week Moving Average Is Key

Bitcoin briefly topped $81,000 intraday on Friday before pulling back, testing a key resistance zone between $80,000 and $82,400. Galaxy Research noted that a weekly close above the 50-week moving average (around $81,795) could serve as a signal that the recent bear market phase has ended.

👉ETF Inflows: Nine Straight Days of Net Buying

Spot Bitcoin ETFs have now recorded nine consecutive trading days of net inflows, including $242.3 million on August 27 alone — bringing the total for this inflow streak to roughly $3 billion. For the month of August overall, inflows have reached approximately $3.51 billion, on pace to be the largest monthly inflow since October of last year.

⭐A Note of Caution

Even with this strong run, Bitcoin remains well below its mid-January 2026 high of $94,820, and further below last October's all-time high of $126,198. Some analysts note that the market had become heavily short-positioned heading into this rally, and a wave of forced short liquidations likely accelerated the move. Given how similar patterns have played out in previous cycles, some experts remain open to the possibility of another pullback before the next leg higher.

📅 What to Watch Next Week

• Broadcom earnings, due next week, will be closely watched to see whether the divide between Nvidia and other semiconductor names continues.
• The August jobs report will be a key input for the Fed's September rate decision.
• Bitcoin's next move: watch whether it can break through resistance in the $80,000–$82,400 zone, with a close above the 50-week moving average potentially signaling the end of the recent bear phase.
• S&P 500 range: keep an eye on whether the index finally breaks out of its current range (support around 7,630, resistance around 7,815).

⚠️ A Quick Word of Caution

This week combined two very different forces: Nvidia's earnings strength on one side, and Fed Chair Warsh's hawkish tone on the other, while weakness in healthcare and energy capped the market's overall upside. Bitcoin managed to hold onto its gains even after last week's historic surge, but whether it can clear resistance in the $80,000s will likely determine its next major move. As always, this recap is for general informational purposes only and isn't financial advice — before making any investment decisions, it's worth double-checking the latest figures on sources like Yahoo Finance, CNBC, or CoinGecko.

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📝 Quick Summary

• Stocks: All three major indexes posted their first weekly gain in three weeks, led by Thursday's Nvidia-driven rally, though Friday's hawkish Fed commentary erased some of the gains.
• Sectors: Communication Services (+1.4%) led the week thanks to Salesforce's 22% surge; Healthcare (−2.0%) was the weakest performer.
• Inflation: July core PCE came in at 3.3% year-over-year, matching expectations but still well above the Fed's 2.0% target.
• Nvidia: Delivered an earnings surprise and strong guidance, sending shares up 8.7% and lifting the broader tech sector.
• Jackson Hole: Fed Chair Kevin Warsh's hawkish remarks pushed September rate-hike odds up to 57%, based on trader positioning.
• Bitcoin: Rose roughly 9.7% for the week to around $80,000–$80,800, extending the momentum from the prior week's record-setting surge, with spot ETFs posting nine straight days of net inflows.
• Next week: Broadcom earnings, the August jobs report, and whether Bitcoin can clear resistance near $80,000–$82,400 are the key things to watch.

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※Sources / References

This recap is based on a weekly market summary covering the period of August 24–28, 2026. For the latest, most up-to-date figures, please verify directly with:

• Yahoo Finance
• CNBC
• CoinGecko

💥Disclaimer: 

This article is for informational purposes only and does not constitute financial or investment advice.