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US markets opened the week with Monday's Memorial Day closure, but investors wasted little time making up ground. Equities extended their rally through the remaining four sessions, driven by a technology sector buoyed by strong earnings and continued AI enthusiasm. Micron Technology was the standout, surging roughly 19% on the back of robust results that reinforced the broader semiconductor narrative.
A four-day trading week packed four weeks of drama: WTI crossed $100 for the first time in years, August CPI kept the pressure on, and the S&P 500 fell for a fourth consecutive session before Friday's relief rally closed the week on a calmer note. →
A sharp US-Iran re-escalation rattled Monday, mid-week dovish Fed signals lifted sentiment, then Friday's blowout jobs report reversed it all: leaving the S&P 500 essentially flat and the September FOMC wide open. →
A blowout Nvidia quarter confirmed the AI cycle is intact, but Fed Chair Warsh's hawkish Jackson Hole debut sent rate hike odds surging and rattled gold, silver and Bitcoin on Friday. →
Rising long-term Treasury yields, a Walmart-shaped consumer warning, and surging Bitcoin combined for a volatile week, but the combined portfolio again beat a falling market. →
A quiet week by recent standards delivered exactly what markets needed: benign CPI and PPI data, no Fed surprises, and a third consecutive weekly gain for the S&P 500. →
