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
Markets open the new week holding just above Friday's close, when Fed Chair Kevin Warsh's debut Jackson Hole keynote struck a hawkish note, warning that this summer's inflation readings "do not tell me that underlying trends have meaningfully improved," sending the S&P 500 down 0.25% to 7,711.76, the Nasdaq Composite down 0.52% to 26,402.42 and the Dow Jones down 0.02% to 53,559.99 — though all three still closed out the week higher on the strength of Thursday's blowout Nvidia earnings. Over the weekend, combat between the U.S. and Iran resumed for the first time in a month after American forces struck Iranian rocket launchers near the Strait of Hormuz, sending WTI crude jumping toward $84.50 a barrel and knocking stock futures modestly lower Monday morning. Warsh's hawkish remarks have already pushed traders' odds of a September rate hike to 57%, and the 10-year Treasury yield is holding near 4.72% as investors weigh the fresh geopolitical risk against a still-resilient economy. Communication Services and Technology led sector gains last week while Energy lagged, and gold slipped to around $4,489 an ounce as firmer rate-hike odds outweighed safe-haven demand from the Middle East flare-up. It's a data-heavy week ahead of the Labor Day holiday on September 7, with the ISM Manufacturing PMI due Tuesday, Broadcom's earnings Wednesday, Lululemon and Zscaler reporting Thursday, and the closely watched August jobs report due Friday, September 4.