This is one of the biggest weeks of the late summer. Nvidia reports Wednesday, the PCE inflation report lands, and Fed Chair Warsh makes his Jackson Hole debut Friday. Here is your market review and preview for the week of August 24.
This is your Sunday market review and preview for the week of August 24 to 28, 2026. This market news and economic calendar roundup recaps last week and covers the week ahead, from Nvidia (NVDA) earnings to the core PCE inflation report and the Jackson Hole symposium. Here is what traders are watching before the open on Monday.
Last Week Review, August 17 to 21, 2026
Last week was all about the consumer, and the picture came back mixed. The big retailers reported, with Home Depot on Tuesday, Target and Lowe's on Wednesday, and Walmart on Thursday. They landed just after July retail sales posted their steepest monthly drop in over a year and consumer sentiment slumped, so the results were scrutinized for cracks in spending. On Wednesday, the Fed released the minutes from its late July meeting, which confirmed a divided committee. The Fed held rates at 3.50 to 3.75 percent, but three officials dissented in favor of a hike, underscoring how split policymakers are. The market stayed near record highs through it all, but with a more cautious tone as the soft consumer data and the hawkish dissents reminded traders that the rate path is not settled. The takeaway: records held, but the easy part of the rally is over.
Market News, Week of August 24, 2026
This week is stacked with three major catalysts, any one of which could set the tone into September. Nvidia reports earnings Wednesday after the close and is the single most important read on whether the AI trade can keep carrying this market. The core PCE inflation report, the Fed's preferred gauge, arrives later in the week and is expected to show inflation still around 3.3 percent. And the Jackson Hole symposium runs Thursday and Friday, with Chair Warsh giving his first keynote as Fed chair on Friday morning. With the market at record highs, the bar is high and the risk of a sharp reaction to any of these events is real.
Economic Calendar, Week of August 24 to 28, 2026
The data and the Fed share the spotlight with Nvidia this week.
Day | Event | Why It Matters |
|---|---|---|
Tuesday, August 25 | Durable goods orders, consumer confidence | A read on business investment and the consumer mood. Medium impact. |
Wednesday, August 26 | Nvidia earnings after the close | The key test of the AI trade and the broader bull market. High impact. |
Thursday, August 27 | Q2 GDP second reading, jobless claims, Jackson Hole begins | Growth check and the start of the Fed symposium. Medium to high impact. |
Friday, August 28 | Core PCE inflation, Warsh Jackson Hole speech, 10am ET | The Fed's preferred inflation gauge and the Chair's first keynote. High impact. |
Nvidia Earnings and the AI Trade
Nvidia (NVDA) reports Wednesday after the close, and it is the report the whole market is waiting on. As the largest name in the AI trade, its results and guidance set the tone for the entire chip and AI complex, from AMD and Broadcom to the memory names. Traders will focus on data center revenue, gross margins, and the outlook for AI demand into next year. Dell (DELL) also reports this week, adding another read on AI server demand. After the chip volatility earlier this summer, this print carries extra weight.
Jackson Hole and PCE Inflation
The other two big tests are macro. The core PCE inflation report, which the Fed watches more closely than CPI, is expected to show inflation still around 3.3 percent, well above the 2 percent target, which keeps the rate debate alive. Then Chair Warsh takes the stage at Jackson Hole on Friday for his first keynote as Fed chair. Traders will parse every word for his read on inflation, the rise in long term yields, and how the Fed will guide policy after pulling back on forward guidance. Between Nvidia, PCE, and Warsh, this is a week that can move everything.
Unusual Options Activity
Positioning is built around Nvidia and the macro events.
Ticker | Context | Options Read |
|---|---|---|
NVDA | Earnings Wednesday | The most watched report of the quarter, so options are pricing a large move that will ripple across the chip group. |
SMH | Chip sector | Active as the whole semiconductor complex trades off the Nvidia print. |
SPY and QQQ | PCE and Jackson Hole | Index options in focus for the inflation read and Warsh's speech into the weekend. |
Options flow shows positioning for educational review only. It is not a recommendation to buy or sell. Past flow does not guarantee future direction.
What Traders Are Watching
Three things stand out. First, Nvidia on Wednesday, the make or break report for the AI trade and, by extension, the whole market at these highs. Second, the core PCE inflation number, which tells the Fed whether the recent soft inflation trend is holding. Third, Warsh at Jackson Hole on Friday, his first keynote as chair, which could reset rate expectations into the September meeting. It is a week where doing less and respecting the events often beats forcing trades.
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Disclosure: I am not a registered financial advisor. This is educational content on market news, the economic calendar, and historical trade reviews. Trading involves risk of loss. Past performance does not guarantee future results. Nothing herein is a recommendation to buy or sell any security. Assume I have positions in tickers discussed. Do not make financial decisions based solely on this content. Trade your own decisions.