Lawmakers in the nation’s two most populous states were planning to vote Thursday on competing proposals as the battle over U.S. House maps intensified.

When Nvidia, the chip producer, reports earnings next week, investors expect the S&P 500 to have a bigger reaction than when the Fed chair delivers a big speech on Friday.

Jerome Powell, the Federal Reserve chair, is managing a high-stakes balancing act as he grapples with a cooling labor market, rising inflation and White House pressure to cut interest rates.