This Week on Wall Street
Your weekly cheat sheet — what's moving markets, what's coming up, and what it means for your portfolio. No jargon, just clarity.
This Week in Markets
U.S. markets are closed today, Monday, for the Labor Day holiday, leaving Friday's session as the most recent trading day heading into the new week. The S&P 500 fell 0.4% Friday to 7,718.60, the Nasdaq Composite slipped 0.3% to 26,506.99 and the Dow Jones dropped 0.5% (272 points) to 53,414.25 after a much-hotter-than-expected August jobs report showed nonfarm payrolls jumping 162,000 versus the roughly 55,000 economists expected, pushing the 10-year Treasury yield up to about 4.79% and lifting market-implied odds of a Fed rate hike toward 58%. Utilities, Financials and Technology were Friday's only advancing sectors, while Communication Services and Consumer Discretionary led the declines as a Lululemon earnings miss dragged retail names lower. The VIX slid to 14.32 even as stocks fell, and gold eased to about $4,420 an ounce while WTI crude held near $91.93 a barrel on lingering Middle East supply concerns. Trading resumes Tuesday ahead of Friday's August CPI report and the following week's pivotal FOMC decision.