Week of 09/04-09-08 Stock Mixed Ahead of Inflation Economic Data

Stock markets closed mixed this week as the uncertainty lingers in whether the FED will pause or continue to raise interest rates for the remainder of the year. The S&P 500 closed fairly even on Friday, but down on the week overall. The NASDAQ and DOW closed lower posting a weekly decline as rising oil prices, technology macro-economic policies, and the Consumer Price Index expectations affect the exchanges. Crude oil prices rose this week as Saudi Arabia extended the decision to cut the daily production until the end of the year. This places concerns on the global economy as higher crude oil prices will typically result in increased inflation. On the technology sector, China banned the use of Apple iPhones for its government employees for security concerns as tensions between the U.S. and China increase over the authority of Taiwan. This caused Apple stock to drop around 4% and affected the technology sector negatively. As we continue to digest economic data and set expectations on interest rates, the CPI report is coming next week on September 13th. Investors keep looking for signals that might indicate an interest rate pause, but uncertainty in the market remains as we continue to advance into mid-September.