This Week on Wall Street

Wall Street rebounded Thursday from the week's Iran-driven selloff, with the S&P 500 up 0.5% to 7,666.60, the Nasdaq Composite up 0.5% to 26,217.83 and the Dow Jones up 0.6% (295 points) to 53,061.95, as investors looked past still-elevated oil prices to chase artificial-intelligence momentum. Nvidia surged 3.35% and Meta gained 2.38%, powering Technology and Communication Services to the session's biggest sector gains, while Energy added roughly 1.0% as WTI crude held above $90 a barrel on continued Strait of Hormuz tanker disruptions. Utilities and Real Estate lagged, slipping about 0.6% and 0.5% respectively, as the 10-year Treasury yield stayed pinned near 4.78% with futures still pricing roughly 60% odds of a rate hike at the Fed's Sept. 16 decision following Chair Warsh's hawkish Jackson Hole remarks. The VIX eased 5.9% to 15.38 as the immediate panic from this week's Middle East escalation faded, even as gold pushed higher to about $4,421 an ounce on lingering safe-haven demand. Attention now turns to Friday's closely watched August jobs report — the last major data point before the Fed's rate decision.