Allspring Global Investments' Ann Miletti said Wall Street has more to worry about from next week's Jackson Hole economic symposium than earnings from AI bellwether Nvidia Corp.

"The thing that we try to stay focused on with all the craziness going on is what you can control," said Miletti, who is Allspring's head of equity investments. "Looking at companies from a bottom-up perspective, really understanding what companies have the balance sheet and the flexibility to kind of get through any environment — that's really where we're focused, and that's what we have control of."

Miletti emphasized that while Nvidia continues to drive market attention with its AI-driven performance, broader economic uncertainties tied to Federal Reserve policy discussions at Jackson Hole pose a greater risk to portfolio stability.

She noted that Allspring remains cautious about macroeconomic volatility, prioritizing companies with strong financial positions and operational resilience over those dependent on trending narratives.