NEW YORK — U.S. stocks were mixed early Friday as Wall Street turned its attention to the Federal Reserve’s Jackson Hole Symposium, where Fed Chair Kevin Warsh is scheduled to speak later in the day on the central bank’s economic outlook and strategy for bringing inflation back to target.

The Dow Jones Industrial Average traded up about 0.15% to 0.3% in early trading, changing hands near 53,650, while the S&P 500 edged modestly higher. The Nasdaq Composite slipped roughly 0.1%, pulling back after a tech- and earnings-driven rally the day before.

Friday’s session followed a strong close on Thursday, when the Dow gained 105.56 points, or 0.2%, to finish at 53,569.44. The S&P 500 advanced 0.72% to 7,730.99, and the Nasdaq jumped 1.57% to 26,541.35 in its best day since Aug. 4, powered largely by Nvidia’s latest earnings report. Nvidia shares surged 8.7% after the chipmaker beat analyst expectations and issued a bullish revenue forecast, a result that helped rebuild investor confidence in the broader artificial intelligence trade.

That confidence carried into Friday’s premarket trading, though markets were largely holding steady as investors waited for clarity from Warsh. His remarks are being closely scrutinized after his stance at the Fed’s last policy meeting left investors uncertain about the central bank’s near-term rate path.

Treasury yields were little changed heading into the speech. The 10-year and 30-year yields remained close to the multiyear highs touched earlier in August, as concerns about inflation and the federal government’s debt load continued to weigh on the bond market. The 10-year yield had fallen to 4.63% earlier in the week, offering some relief to interest-rate-sensitive sectors after climbing sharply in recent weeks.

Beyond the Fed speech, traders were also digesting a notable divergence in speculative assets. Bitcoin and Cathie Wood’s Ark Innovation ETF have each risen more than 20% in August, a pairing that has occurred only four other times since the fund’s 2014 launch. The rally has drawn comparisons to the market environment of late 2020 and early 2021, when near-zero interest rates and pandemic-era stimulus fueled speculative enthusiasm across meme stocks, special-purpose acquisition companies and cryptocurrencies.

The broader market backdrop this week has been shaped by a mix of technology strength and lingering macroeconomic caution. Earlier in the week, on Monday, the S&P 500 fell 0.28% to 7,652.86 and the Nasdaq lost 0.76%, dragged down by weakness in semiconductor stocks. Micron Technology dropped 5.8%, while Advanced Micro Devices and Broadcom each fell more than 2%. The Dow bucked that trend Monday, adding 140.15 points, or 0.26%, to close at 53,417.16, aided by a decline in Treasury yields after reports that the Treasury Department could tap its General Account to help fund a buyback operation.

Gold prices have also been in focus this month, climbing toward $4,637 an ounce on Monday, their highest level since mid-May, though still below the roughly $5,600 record touched earlier this year. The metal’s rebound has come amid broader dollar weakness and continued investor unease over the scale of U.S. government debt.

Oil prices, by contrast, have softened. West Texas Intermediate crude traded near $81 a barrel earlier in the week, pressured lower by reports that the United States plans to return diplomatic personnel to parts of the Middle East, a development that appeared to ease some of the geopolitical risk premium built into energy markets.

On the economic data front, labor market indicators have shown modest improvement. According to ADP, private employers added an average of 11,750 jobs per week over the four weeks ending Aug. 8, up from 9,500 jobs per week in the prior reading, a sign that hiring activity may be firming even as the broader economy navigates elevated borrowing costs.

Investors are also looking ahead to the University of Michigan’s final August consumer sentiment index, due out Friday, along with a quieter stretch of earnings and economic releases heading into next week. Aside from a smaller August ISM Manufacturing PMI report and July JOLTS data due Sept. 1, market attention is expected to remain fixed on the Fed’s policy signals coming out of Jackson Hole.

With equity markets having posted a solid run through much of 2026, some strategists have cautioned that August and September have historically been seasonally weaker months for stocks, and that a period of near-term consolidation would not be unusual even as the broader outlook for equities over fixed income remains favorable, supported by strong corporate profit growth and resilient economic activity.