PUT IN WORK (8/31/2026)
We’re back with yet another issue! Last week was a positive one for the market, though not by a large margin! The Nasdaq (QQQ) ended the week up 0.4%, while the S&P 500 (SPY) finished up 0.5%. Most of the week centered around chip stocks, Nvidia’s earnings, the latest inflation and Fed-related headlines, and more news regarding the war in the Middle East.
Monday started the week lower as semiconductor stocks struggled to make headway. The Nasdaq fell 0.6% and the S&P 500 slipped 0.2%, with Nvidia (NVDA) dropping ahead of its highly anticipated earnings report later in the week. Memory stocks like Sandisk (SNDK), Western Digital (WDC), Micron (MU), and Seagate (STX) also moved lower, weighing down the market.
Tuesday brought a helpful rebound as the Nasdaq rose 0.7% and the S&P 500 gained 0.3% thanks—in part—to a recovery in chip stocks. Nvidia also snapped its recent losing streak, while investors continued to look ahead to its earnings report.
Wednesday wasn’t bad, but it did end slightly in the negative! While the Nasdaq slipped 0.1%, the S&P 500 ended just barely lower after inflation came in a bit hotter than expected. That said, Nvidia reported better-than-expected earnings after the bell, which sent investors into Thursday with a positive mindset.
Thursday was the week’s strongest day. The Nasdaq jumped 1.6% and the S&P 500 climbed 0.7%, urged on by Nvidia’s strong earnings and upbeat guidance. Salesforce (CRM), CrowdStrike (CRWD), and Okta (OKTA) also surged after reporting results, giving tech a little push.
Friday gave some of those gains back, however, as the Nasdaq fell 0.5% and the S&P 500 slipped 0.3%. This was, in part, due to Marvell’s (MRVL) earnings report; though more than that, investors were also digesting Fed Chair Kevin Warsh’s recent speech, which kept rate concerns in view heading into the weekend. Tensions surrounding Iran and the Strait of Hormuz continued over the weekend, and as minefields are cleared and strikes are made, we still exist in an uncertain economic ecosystem. Keep your eyes peeled this week!
PORTFOLIO UPDATE
Our portfolio didn’t do much last week, with the majority of our stocks standing still by Friday’s close. Even some of our more volatile picks stood still. This week might be different, so we’ll keep an eye out for any opportunities and big moves. As always, thank you for reading, and happy investing.