This Week on Wall Street

Markets open a pivotal week still carrying Friday's rally, which snapped a four-session losing streak: the S&P 500 climbed 0.86% to 7,656.98, the Dow Jones gained 0.98% to 52,573.29, and the Nasdaq Composite rose 0.96% to 26,333.04, even though all three benchmarks still finished last week lower. Futures pointed sharply lower early Monday after Anthropic's CEO publicly urged the AI industry to slow frontier-model development, dragging chipmakers including Nvidia and AMD in premarket trading, while renewed U.S.-Iran strikes in the Strait of Hormuz kept WTI crude elevated near $99.99 a barrel. Communication Services and Energy led last week's sectors, while Technology and Real Estate lagged as the 10-year Treasury yield holds near 4.97%, close to its highest level since 2023. The VIX closed Friday at 15.84 even as the CNN Fear & Greed Index still reads 31 (Fear). Friday's hotter-than-expected August CPI, up 3.4% year-over-year, pushed the odds of a hike at Wednesday's September 16 FOMC decision to roughly 85-90%, up sharply from about 69% a week earlier. Traders now turn to Tuesday's retail sales and industrial production data, Trip.com's earnings Tuesday evening, and Lennar's results Thursday for fresh reads on consumer demand, travel spending, and housing heading into the Fed's decision.