Costco earnings and 3 others and the Fed’s favorite inflation gauge

A trader works during the closing bell at the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City. 

Johannes Eisele | Afp | Getty Images

There was a good deal of divergence this week as higher bond yields on a hotter-than-expected reading on manufacturing activity slammed the economically sensitive Dow Jones Industrial Average, while an incredible quarter from Nvidia powered the Nasdaq. The S&P 500, which leans more tech than the Dow and less tech than the Nasdaq, was stuck in the middle.