The S&P 500 just suffered its worst week since the 2023 regional banking scare as a mixed August jobs report failed to reinvigorate investor appetite.
In the holiday-shortened trading week, the S&P 500 (^GSPC) slid more than 4% while the Nasdaq Composite (^IXIC) tumbled nearly 6%. The Dow Jones Industrial Average (^DJI) dropped almost 3%. The first week of September also marked the worst weekly return for the Nasdaq 100 since 2022, led by a more than 12% decline in Nvidia stock (NVDA).
A fresh reading on inflation will headline the week ahead as investors continue to look for clues on how deeply the Federal Reserve will cut interest rates at its September meeting. Additionally, the first reading of consumer sentiment for September is slated for release on Friday.
In corporate news, Apple's annual iPhone event kicks off the week on Monday. Earnings results from Oracle (ORCL), Adobe (ADBE), and Kroger (KR) will lead an otherwise quiet week in scheduled company announcements.
'No clear winner' from the jobs report