Moderna Soars 129% for the Week | Closing Bell

The U.S. market closed higher on the day but lower for the week, with a late risk-on bid masking Treasury volatility and a rotation into hard assets such as gold and bitcoin. Moderna led S&P 500 gainers for the week after positive melanoma vaccine data, while retail earnings from Ross Stores and BJ's Wholesale beat expectations. The memory and chip trade showed continued weakness, with Micron and Nvidia cited as momentum unwinds. The hosts also previewed Nvidia earnings and Jackson Hole, and noted Anthropic's hardware push. - Major U.S. indices finished green on the day but lower for the week amid Treasury volatility. - Gold and bitcoin rose as investors described a debasement trade out of bonds into hard assets. - Moderna soared 129% on the week after melanoma vaccine data with Merck. - Ross Stores and BJ's Wholesale gained on strong quarterly results and raised guidance. - Micron and chip stocks were called a fading momentum trade with weak hands. - Boston Beer dropped after its CFO's announced departure. - Next week includes Nvidia earnings and the Jackson Hole symposium.