Stocks rebounded last week, but the real story came out of Wyoming, where Fed Chair Kevin Warsh used his Jackson Hole keynote to signal that inflation remains a top concern and that the Fed may not be finished tightening. Several regional Fed presidents, including Cleveland's Beth Hammack, Dallas's Lorie Logan, and Minneapolis's Neel Kashkari, echoed that hawkish tone in their own remarks. Markets initially shrugged off the comments on Friday, but sellers took over as the session wore on, pushing short and intermediate-term Treasury yields higher. With the Fed signaling it wants to say less about future moves rather than more, investors may be left parsing every word for clues on where rates go next.

Stocks fell last week as rising oil prices fueled inflation concerns and pushed global bond yields higher. The S&P 500 declined 1.43%, while the Nasdaq fell 2.05% and the Dow slipped 0.85%. Markets stabilized midweek after the Treasury announced plans to increase buybacks of longer-term debt, helping ease some pressure on yields. Investors now turn to key economic data and a busy earnings calendar, highlighted by Nvidia, CrowdStrike, Salesforce, and other major technology companies.

Stocks posted modest gains during a quiet summer week as cooler inflation boosted investor optimism, while weaker retail sales tempered sentiment. The S&P 500 and Nasdaq extended their winning streaks to three weeks, despite a modest decline in the Dow. Investors now turn to the Fed’s July meeting minutes, upcoming economic data, and major corporate earnings reports for further clues about the market’s direction and the outlook for interest rates.

Markets posted their strongest week since mid-April, with the S&P 500, Nasdaq, and Dow all advancing sharply as investors digested the final wave of Q2 earnings. A surprise contraction in July payrolls arrived Friday, sparking a rally as traders bet the softer labor data could shape the Fed's next move on rates. This week brings key data on inflation and retail sales, along with earnings from Cisco and Applied Materials, that should offer more clarity on where the economy stands.