Overview
- The S&P 500 slipped 0.2% on Friday but still finished the week up 0.4%, marking a third straight weekly gain after an intraday high of 7,816.70 was reached the prior day.
- The market’s fear gauge, the CBOE VIX, fell to about 14.28, one of its lowest readings since 1990 and a sign of unusually compressed volatility.
- Official data showed July retail sales fell about 0.6% month‑over‑month and the University of Michigan’s preliminary August consumer sentiment plunged, raising fresh questions about consumer demand.
- More than 90% of S&P 500 companies have reported second‑quarter results with earnings growth tracking near 50% year‑over‑year, and investors now price roughly a two‑thirds chance the Fed will hold rates in September.
- Traders and analysts say attention will shift to coming retail earnings from firms such as Home Depot and Walmart as the next concrete test of whether consumer spending can sustain the market rally.