Market Storylines: Oil Swings, Rising Global Yields, AI Selloff + Earnings Ahead
Market Storylines
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8m 2s
Michael Reinking, Senior Market Strategist at the NYSE, reviews a volatile week as the S&P 500 hit a record Tuesday before rising oil and global yields weighed on stocks. Oil swung over 5% on Strait of Hormuz attacks before easing after President Trump said no Iran strike would come before the midterms. A sharp selloff in AI stocks late Thursday sent the ICE semi index down ~4% and lifted the equal-weight S&P 500 ahead of its cap-weighted peer. Friday’s soft jobs report was read as goldilocks, while FOMC minutes showed broad support for September’s hike. Looking ahead, inflation data, retail sales and the start of bank earnings take center stage next week.
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