US stocks closed mixed for the week, snapping a 3-week winning streak. The S&P 500 fell 1.4% and the Nasdaq dropped 2.1% over the week, though Friday saw a broad rebound.
Key drivers:
· Bond yield surge: The 30-year Treasury yield hit a 19-year high of 5.33%, pressuring growth and tech stocks.
· Consumer concerns: Walmart's cautious guidance raised fears about slowing US consumer spending.
· Geopolitics: Rising oil prices due to Middle East tensions added to risk-off sentiment.
Sector & stock moves:
· Semiconductors were the weakest, with the Philadelphia Semiconductor Index falling ~5% for the week. Nvidia and Intel saw notable drops.
· Defensive sectors (financials, healthcare, energy) outperformed, with the Dow showing relative strength.
· Friday rebound: The Dow jumped nearly 1% on Aug 21, leading a broad market recovery.
What to watch this week:
· Fed Chair Warsh's speech at Jackson Hole (Aug 28)
· $NVDAB $AAPLB $NVDA.US earnings
· Core PCE inflation data — these will likely set the near-term direction.
Key drivers:
· Bond yield surge: The 30-year Treasury yield hit a 19-year high of 5.33%, pressuring growth and tech stocks.
· Consumer concerns: Walmart's cautious guidance raised fears about slowing US consumer spending.
· Geopolitics: Rising oil prices due to Middle East tensions added to risk-off sentiment.
Sector & stock moves:
· Semiconductors were the weakest, with the Philadelphia Semiconductor Index falling ~5% for the week. Nvidia and Intel saw notable drops.
· Defensive sectors (financials, healthcare, energy) outperformed, with the Dow showing relative strength.
· Friday rebound: The Dow jumped nearly 1% on Aug 21, leading a broad market recovery.
What to watch this week:
· Fed Chair Warsh's speech at Jackson Hole (Aug 28)
· $NVDAB $AAPLB $NVDA.US earnings
· Core PCE inflation data — these will likely set the near-term direction.