US stocks had a mixed week, with value stocks leading the market as U.S. WTI oil prices rose above $90 per barrel for the 1st time since November 2022. Tech and growth stocks lagged after Apple’s new product introduction event on Tuesday that featured a price increase on its top-of-the-line iPhone 15. However, broad market sentiment received a boost from the largest IPO of 2023 as shares of Arm started trading on the Nasdaq on Thursday. Wednesday’s release of the August CPI data showed that the Fed has made progress in its fight against inflation, but rising energy prices may prompt the central bank to further tighten monetary policy. The headline CPI numbers showed the largest monthly increase since August 2022, due to the effect of higher gasoline prices. The core (excluding food and energy) CPI increase was slightly higher than expected, but markets took the news in stride. Headline producer prices index (PPI) climbed more than expected while core PPI was in line with expectations. Retail sales for August were strong. U.S. Treasury yields increased modestly over most maturities. The STOXX Europe 600 Index ended 1.60% higher after the ECB raised interest rates but signaled that borrowing costs may have reached a peak. Better economic data out of China also appeared to lift investor sentiment. In Asia, Japan’s Nikkei 225 Index finished up 2.8% while Chinese equities were mixed. The dollar index closed higher for a 9th week in a row, its longest winning streak since 2014!