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Week 33 (10–14 August) was the calm after the storm. After several weeks of geopolitical shock, Fed-driven bond volatility and sharp intraweek swings, the market finally got a lighter-than-usual calendar and used it to consolidate recent gains. The dominant theme of the week was inflation: two key data releases confirmed that price pressures are not re-accelerating, easing the most acute concern hovering over markets since the summer oil spike. The S&P 500 gained 0.4% on the week (its third consecutive weekly advance) and touched a new all-time high above 7,800 on Thursday before closing Friday at 7,785.76. The Nasdaq edged up a modest 0.1%, while the Dow gave back 0.6%. The small-cap Russell 2000 also reached a new record high during the week.
For the Rivativ model portfolios, the week was steady and controlled: all four portfolios closed in positive territory, the combined result outperformed the index, and the monthly picture continues to look excellent. Combined weekly result: +$1,707.42 (+0.41%), versus SPX +0.36%. August month-to-date: +3.24% for the combined portfolio versus the index's +3.95%.
A hotter-than-expected September CPI reignited October rate-hike fears, while an AI revenue disappointment triggered an eight-session semiconductor losing streak — but the Dow powered to an all-time high and oil's surge toward $100 made energy the week's standout sector. →
A hawkish set of FOMC minutes sent the 10-year briefly to a 24-year high before a strong Treasury auction and Trump's diplomatic overtures to Iran sent yields back down and equities higher, with the S&P 500 and Dow posting solid weekly gains on the doorstep of earnings season. →
A soft August PCE print and a sharply disappointing jobs report sent rate hike odds collapsing from 64% to 17%, rescuing equities from an otherwise bruising week shaped by geopolitical flare-ups and crumbling consumer sentiment. →
Treasuries hit 19-year highs as October rate hike odds climbed toward 70%, yet equities powered through the pressure, led by Meta's AI showcase and a broad technology rally. →
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. →
