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Week of August 31st Recap
Stocks were mixed last week as markets continued to navigate geopolitical concerns and new signals about short-term interest rates.
The Standard & Poor’s 500 Index edged up 0.09 percent, while the Nasdaq Composite Index rose 0.40 percent. The Dow Jones Industrial Average slipped 0.27 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, skidded 0.25 percent.1,2
Summer’s Final Act
Stocks fell modestly, and oil prices rose at the start of the week after renewed tensions in the Middle East put investors on edge. Longer-maturity Treasury bond yields also rose, adding pressure on stocks.3
Stocks remained under pressure as global bond yields rose, with traders fretting that higher oil prices would stoke broader inflation. Benchmark government bond yields for the U.S., Germany, and Japan hit 20-month, 15-year, and 30-year highs, respectively.3
But midweek, stocks rebounded after Fed Governor Christopher Waller suggested that the Fed might leave interest rates unchanged at its meeting later this month. Each major average gained 1 percent or more.4,5
Before Friday’s opening, the Labor Department’s nonfarm payrolls report showed job growth was stronger than expected in August. Stocks were under pressure all day as traders saw the job report as a reason that the Fed might consider adjusting rates later this month.6
Jobs Update
Wednesday’s ADP National Employment Report showed private-sector hiring slowed in August, as companies added only 38,000 jobs.7
That was one of the reasons why Friday’s nonfarm payrolls report surprised investors. The entire U.S. economy added 162,000 jobs in August. That was triple the 53,000 job gain economists expected and the biggest jump in 5 months. The unemployment rate also remained unchanged at a historically low 4.1 percent.8
This Week: Key Economic Data
Tuesday: NFIB Small Business Optimism Index. Consumer Credit.
Thursday: Weekly Jobless Claims. Producer Price Index (PPI). Monthly Wholesale Trade. Existing Home Sales.
Friday: Consumer Price Index (CPI). University of Michigan Consumer Survey. Monthly Treasury Balance.
Source: Investors Business Daily – Econoday economic calendar; September 4, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Week of August 24th Recap
Stocks rebounded last week as falling bond yields and upbeat AI-related corporate reports rekindled positive market sentiment despite the Fed Chair’s slightly hawkish speech.
The Standard & Poor’s 500 Index gained 0.49 percent, while the Nasdaq Composite Index rose 0.85 percent. The Dow Jones Industrial Average added 0.53 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.17 percent.1,2
An Active News Week
Chip stocks fell as the week kicked off, dragging down the S&P 500 and Nasdaq. Reports that the Treasury Department may buy back its own bonds helped drive yields lower.3,4
Midweek, the Personal Consumption Expenditures (PCE) Report, the Fed’s preferred inflation gauge, came in a little hotter than expected. However, core PCE, which excludes food and energy, was in line with forecasts.5
Market sentiment got a lift on Thursday as investors cheered upbeat Q2 corporate reports. A handful of high-profile tech companies said AI helped drive Q2 results and provided strong guidance. Semiconductor stocks and adjacent names in the AI trade led the rebound, driving broader gains for the Nasdaq and S&P 500.6
On Friday, stocks initially shrugged off Fed Chair Kevin Warsh’s keynote speech, but sellers gained the upper hand later in the session. Short- and intermediate-term Treasury yields, including that of the bellwether 10-year Treasury note, rose as investors digested Warsh’s comments on inflation.7
Signals from Jackson Hole
At the Federal Reserve’s 2026 Economic Policy Symposium in Jackson Hole, Fed Chair Warsh expressed concerns about current inflation trends. He also said that he believes “less is more” when it comes to the Fed communicating about future policy moves.
In separate speeches, Cleveland Fed President Beth Hammack, Dallas Fed President Lorie Logan, and Minneapolis Fed President Neel Kashkari appeared to support higher short-term rates. Fed Governor Christopher Waller, Kansas City Fed President Jeffrey Schmid, and Vice Chair Philip Jefferson also took a modestly hawkish tone in their statements.8
This Week: Key Economic Data
Tuesday: Purchasing Managers Index (PMI)—Manufacturing. Construction Spending. Job Openings & Labor Turnover Survey.
Wednesday: ADP National Employment Report (private sector). Factory Orders. Federal Reserve Beige Book.
Thursday: Trade Balance. Weekly Jobless Claims. Purchasing Managers Index (PMI)—Services. Fed speeches, ‘Connecting Communities’ online event: Beth Hammack (Cleveland), Austan Goolsbee (Chicago).
Friday: U.S. Employment Report.
Source: Investor’s Business Daily – Econoday economic calendar: August 28, 2026.
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Week of August 17th Recap
Stocks declined last week as global investors fretted about oil-supply-induced inflation.
The Standard & Poor’s 500 Index declined 1.43 percent, while the Nasdaq Composite Index slid 2.05 percent. The Dow Jones Industrial Average slipped 0.85 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.40 percent.1,2
Bond Yields Up, Stocks Under Pressure
Bond yields spiked at the start of the week, putting a squeeze on stock prices. The yield on the 30-year Treasury bond hit a 19-year high.
Markets continued their slide on Tuesday as investors fretted over inflation. Yields on bonds around the world rose to multi-decade highs.3,4
Stocks steadied, and bond yields fell midweek as investors responded to the Treasury Department’s announcement that it would buy back long-term debt to help stabilize interest rates. However, the Wednesday morning rally petered out as the session progressed into the afternoon.5,6
Stocks rebounded to finish a tough week on a positive note despite rising oil prices.7
A Bee in the Bonnet
Last week, yields on bonds issued by sovereign governments around the world rose to multi-year highs, including in Japan and throughout Europe.
Investors in these bonds decided they needed higher yields to compensate for ongoing global issues. As a result, the cost to borrow money went up. And because bond prices and yields move in opposite directions, the value of these bonds fell.
The Treasury Department stepped in on Wednesday to say that it would double the size of its current repurchases of longer-term (10- to 30-year) Treasury debt. It’s uncertain how the move could influence markets.8
This Week: Key Economic Data
Tuesday: S&P Cotality Case-Shiller Home Price Index. New Home Sales. Consumer Confidence (Conference Board).
Wednesday: Durable Goods. Gross Domestic Product (GDP), 2nd estimate. Personal Consumption Expenditures (PCE) Index.
Thursday: Weekly Jobless Claims. Trade Balance in Goods. Wholesale Inventories. Retail Inventories.
Friday: Consumer Sentiment (U. Michigan).
Source: Investor’s Business Daily – Econoday economic calendar: August 21, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Week of August 10th Recap
Stocks were mixed over a sleepy summer week, as cooling inflation lifted markets while sluggish retail sales nipped at investor sentiment.
The Standard & Poor’s 500 Index added 0.36 percent, while the Nasdaq Composite Index edged up 0.14 percent. The Dow Jones Industrial Average slid 0.56 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, advanced 0.26 percent.1,2
Third Straight for S&P 500
Stocks began the week with mild declines, with megacap tech names under pressure as investors anxiously awaited inflation updates.3
But spirits lifted midweek as a July inflation report showed consumer prices increased at a slower pace, leading investors to hope the Fed would not adjust rates at its next meeting.
The AI trade also jumped back into the driver’s seat to add momentum. The rebound rally extended into Thursday as investors cheered a cooler-than-expected report that showed wholesale inflation slowed over the prior month. Falling oil prices also gave stocks a boost.4,5
While stocks slipped slightly on Friday, the S&P 500 and Nasdaq each logged their third consecutive winning week.6
Inflation Cools, Spending Slows
Wednesday’s Consumer Price Index (CPI) report showed consumer prices rose 0.1 percent in July over the prior month and 3.4 percent over the prior 12 months. Both figures came in as expected, which was welcomed news for investors.
Thursday’s Producer Price Index (PPI) showed that the pace of wholesale inflation also slowed more than expected.7
But the inflation update was somewhat countered by news that consumers spent less in July. Economists expected a 0.1 percent increase in July retail sales over the prior month, but they actually fell 0.6 percent month-over-month.8
This Week: Key Economic Data
Monday: NAHB Housing Market Index.
Tuesday: Housing Starts. Import Prices. Industrial Production. Capacity Utilization. Pending Home Sales.
Wednesday: Fed Meeting Minutes from July published.
Thursday: Weekly Jobless Claims. Leading Indicators.
Friday: Purchasing Managers Index (PMI)—Manufacturing. PMI—Services.
Source: Investor’s Business Daily – Econoday economic calendar: August 14, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Week of August 3rd Recap
Stocks bolted ahead last week as investors cheered the last big week of Q2 corporate reports and a Friday jobs update that put the spotlight on the Fed’s next move with short-term rates.
The Standard & Poor’s 500 Index advanced 3.57 percent, while the Nasdaq Composite Index gained 5.19 percent. The Dow Jones Industrial Average rose 2.96 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 2.32 percent.1,2
Best Week in Nearly 4 Months
Stocks opened the week strong as oil prices slid on news of diplomatic efforts in the Middle East. Big Tech led, which helped push the Dow Industrials to a record close.3
Investor optimism continued to build on Tuesday as stocks opened higher and climbed throughout the day. Strong Q2 corporate reports added fuel to the rally, lifting all three averages into a second day of robust gains.4
Markets opened higher on Wednesday but lost momentum as the day progressed. On Thursday, oil prices crept higher, and stocks went sideways as investors awaited updates on the Middle East and digested the final big trove of Q2 corporate results.5,6
Then, on Friday, an unexpected contraction in the labor market boosted stocks as investors hoped the jobs data might influence the Fed’s outlook for short-term rates.
Each major average logged its best weekly gain since mid-April.7
Source: YCharts.com, August 8, 2026. Weekly performance is measured from Monday, August 3 to Friday, August 7. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.
Labor Market Update
The economy unexpectedly shed 23,000 jobs in July, based on the Labor Department’s report released Friday. Economists expected 83,000 jobs to be created. July’s decline was the first monthly contraction in the labor market since February.8
Additionally, the number of jobs added in May and June was revised down by 103,000, reinforcing evidence of a cooling job market. Meanwhile, unemployment edged down to 4.1 percent as fewer people looked for work.8
This Week: Key Economic Data
Tuesday: NFIB Small Business Optimism Index. Existing Home Sales. New York Fed Q2 Household Debt & Credit Report.
Wednesday: Consumer Price Index (CPI). Monthly Treasury Balance.
Thursday: Fed Speeches: Beth Hammack (Cleveland) and Thomas Barkin (Richmond). Weekly Jobless Claims. Producer Price Index (PPI).
Friday: Retail Sales. Manufacturing & Trade: Inventories. University of Michigan Consumer Survey.
Source: Investors Business Daily – Econoday economic calendar; August 7, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Week of July 27th Recap
Stocks pushed through another volatile summer week as diverging Q2 corporate reports and the Fed’s rate decision whipsawed prices.
The Standard & Poor’s 500 Index rose 1.05 percent, while the Nasdaq Composite Index advanced 1.59 percent. The Dow Jones Industrial Average added 1.04 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, increased 2.13 percent.1,2
Tech Stocks Steal Spotlight
Chip stocks were under pressure at the start of the week as investors fretted over fresh competition from China and higher-than-expected AI capital expenditures. But the Dow pushed higher as oil prices slid and investors rotated out of technology.3,4
On Wednesday, the Federal Reserve said it was holding interest rates steady, a move that was initially well received by markets. But as the day progressed, selling picked up as investors expressed concern that the Fed was not doing enough to battle inflation.5
Markets rebounded on Thursday with semiconductors and big-tech names leading the way. The Nasdaq rose nearly 3 percent, ending its 6-day losing streak.6,7
Momentum from Thursday’s rally extended into Friday. Markets rose at open despite diverging Q2 earnings results from two influential tech companies. While it wasn’t a straight line, all three major averages built on gains throughout the day to end the week higher.8
Fed Watch
The Federal Open Market Committee voted 9-3 to hold rates steady: 9 voted to hold, while 3 voted to increase. The decision to hold rates was initially met with enthusiasm, but traders became increasingly unsettled as the day progressed.
At the Fed’s press conference, Chair Kevin Warsh explained the decision, but some were concerned that the Fed was underestimating inflation. The next scheduled two-day Fed meeting ends on September 16, so traders will have plenty of economic reports to assess overall consumer prices.9
This Week: Key Economic Data
Monday: Purchasing Managers Index (PMI)—Manufacturing. Construction Spending.
Tuesday: Trade. Job Openings & Labor Turnover. Factory Orders.
Wednesday: ADP Employment Report. PMI–Services.
Thursday: Productivity & Costs. Weekly Jobless Claims. Wholesale Trade.
Friday: U.S. Employment Report. Consumer Credit.
Source: Investor’s Business Daily – Econoday economic calendar: July 31, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Week of July 20th Recap
Stocks ended last week down as Q2 corporate results, Middle East developments, and the chips trade took investors for a choppy ride.
The Nasdaq Composite Index was under the most pressure, falling 2.13 percent. The Standard & Poor’s 500 Index lost 0.61 percent, while the Dow Jones Industrial Average slipped 0.38 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 0.35 percent.1,2
A Volatile Week
After a sluggish start on Monday, stocks rebounded on Tuesday as the chips trade led the markets higher, as investors turned their attention to Q2 corporate earnings results.3
Then stocks stalled midweek as oil prices and bond yields rose and investors digested some initial Q2 reports. The S&P 500 ended just below the flatline, while the Dow went sideways and the Nasdaq posted a modest loss.4
Stocks opened lower Thursday as mixed corporate updates from two of the world’s largest companies soured investor sentiment. One company said it was raising its AI spending forecast for the year, which unsettled investors who believed other companies may have to do the same.5
Sentiment turned positive Friday morning as investors cheered quarterly results and guidance for one big tech company. But markets retreated in the afternoon as investors fretted over oil prices.6
The Importance of Guidance
Last week was one of the busiest for the Q2 2026 corporate reporting season.5
Corporate earnings are a key driver of stock prices, so updated corporate guidance can increase market volatility. Last week, two influential companies said they intended to spend more money this year than expected, which caught investors off guard.5
As more Q2 corporate reports get released, expect investors to pay close attention to any spending updates for other companies.
This Week: Key Economic Data
Monday: Durable Goods.
Tuesday: Federal Open Market Committee (FOMC) meeting—Day 1. Advance Economic Indicators. Retail & Wholesale Inventories. S&P Cotality Case-Shiller Home Price Index. Consumer Confidence.
Wednesday: FOMC meeting—Day 2. Fed Interest Rate Decision.
Thursday: Gross Domestic Product (GDP), Q2. Weekly Jobless Claims. Personal Consumption Expenditures (PCE) Price Index.
Friday: Employment Cost Index. University of Michigan Consumer Survey (Final).
Source: Investors Business Daily – Econoday economic calendar; July 24, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Week of July 13th Recap
Stocks fell last week as the chip-stock trade entered a selloff phase, despite upbeat news on inflation.
The Standard & Poor’s 500 Index fell 1.55 percent, while the Nasdaq Composite Index declined 2.90 percent. The Dow Jones Industrial Average slipped 0.93 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.80 percent.1,2
Chip Stocks Under Pressure
Renewed tensions in the Middle East gripped investors as the week kicked off. Stocks slid broadly as oil prices climbed.3
On Tuesday, investors cheered news of the first drop in consumer inflation in six years. The following day, an unexpected drop in wholesale inflation prompted investors to rethink the Fed’s next move on short-term interest rates.4,5
But on Thursday, the S&P 500 opened lower as chip stocks dragged the broader market lower once again.6
As the week wrapped up, the S&P lost over 1 percent on Friday, while the Nasdaq fell 1.4 percent as investors appeared to rotate out of chip stocks and other tech names in favor of other sectors.7
Inflation Declines
The Consumer Price Index (CPI) surprised Wall Street last week, falling 0.4 percent in June from the prior month. While month-over-month inflation has decelerated at times over the past six years, this was the first monthly decline in consumer prices since April 2020.8
Wednesday’s Producer Price Index report showed that monthly wholesale inflation unexpectedly declined 0.3 percent in June. Later in the day, New York Fed President John Williams said that he believed inflation had likely peaked.9
This Week: Key Economic Data
Monday: Leading Indicators. Three-Month Treasury Bill Auction. Fed Board of Governors (closed) meeting.
Tuesday: Treasury Buyback Announcement.
Wednesday: Atlanta Fed Business Inflation Expectations. 20-Year Treasury Bond Auction. EIA Petroleum Status Report.
Thursday: Weekly Jobless Claims. Kansas City Fed Survey. EIA Natural Gas Report. Fed Balance Sheet.
Friday: Purchasing Managers Index (PMI) Composite–Manufacturing. PMI Composite–Services. New Home Sales.
Source: Investor’s Business Daily – Econoday economic calendar: July 17, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Week of July 6th Recap
Stocks largely advanced over a V-shaped week as the AI trade, led by chip stocks, pushed the S&P 500 and Nasdaq averages higher amid renewed conflict.
The Standard & Poor’s 500 Index rose 1.23 percent, while the Nasdaq Composite Index advanced 1.74 percent. The Dow Jones Industrial Average declined 0.50 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 1.42 percent.1,2
Tech-Led Rise Past Geopolitical Concerns
Stocks rose to start the week, with the Dow hitting another record close and the Nasdaq climbing more than 1 percent as investors shook off valuation concerns that plagued AI stocks over the past few weeks.3
The Dow hit a new intraday high on Tuesday before its two-day slide, along with the S&P 500 and Nasdaq, through the week’s lows midday Wednesday. That said, the Nasdaq eked out a slight gain on Wednesday after chip stocks recovered.<sup4,5
After hitting its midweek bottom, stocks climbed through the end of the week. Chip stocks led the rally, pushing higher amid continued Middle East conflict, even as reports emerged that mediators were trying to get the U.S. and Iran back to the negotiating table. A handful of big tech names led the broad market’s rise to finish the week strong, with the S&P 500 and Nasdaq each gaining more than 1 percent on Friday.6,7
A ‘Family Fight’, Vexed by Inflation
Minutes from the Fed’s June meeting were released on Wednesday and revealed a Fed divided and unsure of how to proceed without more inflation data.
Fed officials offered opposing arguments at the meeting about whether to raise or lower interest rates. Fed Chair Warsh called the debate a “family fight” and gave little forward guidance on where the next decision was leaning, adding they would continue to assess “incoming information” on inflation.8
This Week: Key Economic Data
Monday: Treasury Balance.
Tuesday: NFIB Small Business Optimism Index. Consumer Price Index (CPI). Fed Chair Kevin Warsh presents Monetary Policy Report to Congress. Chicago Fed President Austan Goolsbee speaks.
Wednesday: Producer Price Index (PPI). Personal Consumption. New York Fed President John Williams speaks. Fed Beige Book.
Thursday: Retail Sales. Weekly Jobless Claims. Manufacturing & Trade: Inventories & Sales. NAHB Housing Market Index. Pending Home Sales. Dallas Fed President Lorie Logan speaks.
Friday: Housing Starts. Import Prices. Industrial Production. Capacity Utilization. University of Michigan Survey Results.
Source: Investors Business Daily – Econoday economic calendar; July 10, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
