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The war, and its impacts on inflation and consumers, drove a messy week on Wall Street. By Friday's bell, the major indices had all fallen on the day to end the week mixed as the Dow would come up short.
New developments in the war with Iran, both in the Middle East and back here at home, continue to come out rapidly. For the latest on the hostilities and efforts to reach a deal, updates can be found here.
The markets took a break from their war concerns for a mixed day on Wednesday thanks in part to the July CPI report. The tame inflation data was seen as another sign that the Fed will keep rates on hold.
Thursday delivered even better news for the markets with the arrival of July's PPI reading. Monthly producer inflation held flat compared to June, while yearly PPI's pace would cool off more than expected.
Friday's economic reporting on the state of U.S. consumers was a one-two combo of bad news. July's tumble in retail sales was the worst in more than a year, while the latest sentiment read also took a hit.
The week ahead will be on the quiet side compared to the past few with no major economic reports due out. What will get attention is the slate of big-box retailers' earnings and how consumers are doing.
Investment advisory services offered through Integrated Advisors Network LLC, a Registered Investment Advisor