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Stocks recovered on Friday, but the rebound was not enough to erase a difficult week. The S&P 500 fell 1.4% for the week, the Nasdaq lost 2.1%, the Dow declined 0.8%, and the Russell 2000 fell 1.6%. The bigger story was outside stocks: long-term Treasury yields remained high, oil rose above $90, the dollar weakened, and gold reached a three-month high.
Table of Contents
Weekly Market Dashboard
| Indicator | Level / Data | Weekly Read |
| S&P 500 | 7,674.37 | Friday +0.4%; week -1.4% |
| Nasdaq Composite | 26,180.45 | Friday +0.4%; week -2.1% |
| Dow Industrials | 53,277.01 | Friday +1.0%; week -0.8% |
| Russell 2000 | 3,017.87 | Friday +0.9%; week -1.6% |
| 10-year Treasury | ~4.73% Friday | Long-end pressure remains key valuation risk |
| 30-year Treasury | ~5.27% Friday | Reached ~5.34% during week |
| Dollar Index | ~98.74 | Down ~0.9% on week |
| Gold spot | ~$4,583/oz | Three-month high |
| Brent crude | ~$94/bbl | Up >5% on week; Hormuz risk |
| WTI crude | ~$87/bbl | Energy inflation risk elevated |
| S&P Global Services PMI | 56.8 | Highest since Dec. 2024 |
| S&P Global Composite PMI | 56.0 | Strongest since Apr. 2022 |
Stocks: Friday Helped, but the Week Was Negative
The S&P 500 closed Friday at 7,674.37, the Nasdaq at 26,180.45, the Dow at 53,277.01 and the Russell 2000 at 3,017.87. Friday’s gains showed buyers were still willing to step in, but weekly losses ended the S&P 500 and Nasdaq’s three-week winning streaks.
Bonds: Higher Long-Term Bond Yield Rates Matter
The 10-year Treasury yield finished near 4.73% and the 30-year near 5.27%. Higher yields make borrowing more expensive and bonds more competitive with stocks, especially expensive growth stocks.
Gold, Dollar and Oil Sent a Different Message
The dollar index fell nearly 1% for the week to about 98.74. Gold climbed to roughly $4,583 an ounce. Brent crude approached $94 as tensions around the Strait of Hormuz continued. Those moves show investors balancing growth optimism against fiscal, currency and geopolitical risks.
The Economy Is Sending Mixed Signals
Friday’s business surveys were strong, with services activity at its best level since late 2024. But consumer evidence was softer. Walmart reported its slowest U.S. comparable-sales growth in six years, reinforcing concerns that households are becoming more selective.
Earnings Remain a Major Support
About 85% of S&P 500 companies that had reported results beat average analyst profit estimates. The next major test comes August 26, when Nvidia reports earnings and gives investors another read on AI infrastructure demand.
What to Watch Next Week
• Jackson Hole and Federal Reserve guidance.
• Nvidia earnings on August 26.
• Long-term Treasury yields.
• Oil and Strait of Hormuz developments.
• Gold and the U.S. dollar.
• Whether Friday’s rebound develops into broader repair.
The Bottom Line
The market is not signaling a broad economic breakdown. Earnings and business activity remain strong. But high long-term rates, expensive energy and a more selective consumer have reduced the margin for error.
Closing CTA
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Source and Fact-Checking Notes
Index closes: S&P 500 7,674.37; Nasdaq 26,180.45; Dow 53,277.01; Russell 2000 3,017.87. Source
Cross-assets: 10-year ~4.73%, 30-year ~5.27%, DXY ~98.74, gold ~$4,583, Brent ~$94. Source
Growth: Services PMI 56.8 and composite PMI 56.0. Source
Consumer: Walmart comparable-sales growth slowed to a six-year low. Source
Sources and Further Reading
The following sources support key claims, provide market and investment context, and help readers examine the topic more deeply. Market data and analyst views are time-sensitive and should be rechecked before acting.
Reuters — U.S. equity funds draw inflows despite market pressures
Reuters — Global stocks close a tough week as bond yields and oil stay high
Reuters — U.S. service sector fuels acceleration in business activity
Reuters — Treasury buyback renews dollar-debasement fears
Reuters — U.S. shoppers tighten budgets, but still find room for treats
Reuters — Walmart sales slowdown tests consumer resilience
Investor’s Business Daily — Stock Market Rally Buckles
Investor’s Business Daily — Nvidia, ASML Lead Five Stocks Near Buy Points
Associated Press — How major U.S. stock indexes fared Friday
