This Week on Wall Street

Wall Street enters a pivotal week after stocks clawed back losses in a broad Friday rally, though the S&P 500, Nasdaq and Dow all still finished last week lower as a bond selloff pushed the 10-year Treasury yield to 4.74%, its highest level in nearly two years. Rate-sensitive Industrials and Utilities each fell more than 3% on the week and Technology slid by a similar amount as AI-complex valuation jitters hit semiconductor names, while Materials, Financials and Healthcare bucked the downdraft — Financials got an extra lift as Bitcoin's surge toward $77,000 sent Robinhood and Coinbase sharply higher. Energy also advanced as WTI crude topped $86 a barrel on escalating U.S.-Iran tensions, and Treasury Secretary Bessent is set to unveil a sweeping new round of Iran sanctions Monday afternoon that Tehran has already threatened to answer by choking off Strait of Hormuz oil flows. The week's marquee event is Nvidia's earnings Wednesday after the close, alongside the Fed's preferred PCE inflation reading that same morning, both landing just two days before new Fed Chair Kevin Warsh delivers his first Jackson Hole keynote Friday. With gold pressing toward $4,600 an ounce on renewed U.S. debt concerns and the VIX still calm near 15, investors are bracing for a data- and earnings-heavy stretch that could reset the market's direction heading into September.