Most U.S. equity indexes finished the holiday-shortened week higher. The Nasdaq Composite finished the week 1.14% higher, supported by shares of Apple and Google parent Alphabet, which both rose in the wake of an antitrust ruling that some investors viewed as less severe than expected. Smaller-cap stocks, which can be more sensitive to interest rate movements than larger companies, also advanced for the week. The S&P 500 Index added 0.33%, while the Dow Jones Industrial Average lost 0.32%. The week’s economic calendar brought several reports that painted a bleak picture of the health of the U.S. labor market.

Each week, the Syz investment team takes you through the last seven days in seven charts.

Most U.S. equity indexes ended the week modestly lower on relatively light trading volumes as markets headed into a holiday weekend and the unofficial end of summer. Small-cap stocks outperformed the S&P 500 Index for the third week in a row. Meanwhile, the Dow Jones Industrial Average logged a new record high during the week before losing ground on Friday, ultimately finishing the week lower. Much of the attention was focused on chipmaker NVIDIA’s earnings release after the market closed on Wednesday. Nvidia reported results that generally beat consensus estimates, and while the stock pulled back some on Thursday, the numbers appeared strong enough to ease some recent concerns around the AI-driven rally that has helped propel indexes to all-time highs this year.

Meanwhile, US national debt keeps climbing and Palantir faces an uncharacteristically hard week. Each week, the Syz investment team takes you through the last seven days in seven charts.

The S&P 500 Index rallied on Friday and ended modestly higher after losing ground for the first four days of the week. Federal Reserve Chair Jerome Powell’s prepared remarks on Friday morning at a symposium in Jackson Hole, Wyoming, appeared to open the door to rate cuts, lifting investor sentiment. The dollar dumped as stocks, bonds, gold, crypto, and oil all ripped higher. US small caps led the charge higher on Friday ripping over 3% higher on the week. The Dow closed at its first new record high since December.

Meanwhile, US national debt reaches an all-time high. Each week, the Syz investment team takes you through the last seven days in seven charts.

U.S. equities gained this week, largely driven by bets that the Fed would lower rates at its next meeting in September. The Russell 2000 Index outperformed the S&P 500 Index by the widest weekly margin since April. July CPI US inflation data - published on Wednesday - showed that headline inflation cooled modestly in July, with MoM inflation dropping to 0.2% from June’s reading of 0.3%. However, core inflation accelerated to 0.3% from 0.2% in the prior month. Year-over-year jumped to 3.1%, the highest since February. Later in the week, however, the BLS reported that its producer price index (PPI) reaccelerated in July, rising 0.9% compared with estimates for around a 0.2% increase.

Plus, US exceptionalism still stands strong. Each week, the Syz investment team takes you through the last seven days in seven charts.

U.S. equity indexes advanced for the week, rebounding from the prior week’s sell-off. The Nasdaq Composite performed best, closing the week at a record high, followed by the S&P 500 and Russell 2000 indexes. Apple announced that it would invest $100 billion—in addition to a previously announced $500 billion—in developing U.S.-based manufacturing over the next four years, which would reportedly exempt the company from the Trump administration’s steep tariffs on semiconductors. Shares of the iPhone maker closed the week 13.3% higher, helping support the broader indexes. The Trump administration’s new round of global tariffs kicked in on Thursday but the market reaction appeared to be more muted compared with other recent tariff actions.

Meanwhile, the US/EU trade agreement sparks tension—does Europe have a choice? Each week, the Syz investment team takes you through the last seven days in seven charts.