Weekly Market Recap & Week AheadAugust 10-14, 2026Market Performance Major indexes were mixed on the week, with the S&P 500 touching a fresh record high before pulling back on Friday. Index Weekly Change Friday Close S&P 500 +0.4% 7,785.76 Nasdaq Composite +0.1% 26,729.16 Dow Jones Industrial Average -0.6% 53,732.41 Russell 2000 +3.15% 3,068.42 What Drove the Week The S&P 500 notched its third consecutive weekly gain and reached a new record close during the week, while small caps stood out, with the Russell 2000 posting a strong advance to fresh highs. The Dow lagged, snapping a two-week winning streak on softness in healthcare and industrial shares. Sentiment shifted late in the week. Friday brought a preliminary read on August consumer confidence that came in well below expectations, alongside a July retail sales report showing the sharpest monthly decline in over a year. Combined with recent soft labor data, the readings pointed to a cooling consumer even as inflation remained a top concern for households. That combination pulled stocks lower to close the week despite the earlier record high. Within technology, results were mixed. Some memory and chip names posted strong gains on demand optimism, while several larger technology and semiconductor names softened. Longer-dated Treasury yields moved higher late in the week on concern that the Federal Reserve may be more cautious about further easing than markets had hoped, even with recent inflation data coming in relatively cool. Volatility, as measured by the VIX, ended the week near multi-month lows. A Note on Volatility Weeks like this are a good reminder that a single data point, whether a strong jobs number or a soft sentiment reading, can shift market tone quickly. Short-term swings are a normal part of investing and generally should not drive changes to a long-term financial plan. Week Ahead: August 17–21, 2026This is a data-light week from a headline economic standpoint, but a heavy one for corporate earnings and Fed commentary. Key Economic Data Monday, August 17: Empire State Manufacturing Index; NAHB Housing Market Index Tuesday, August 18: Housing starts and building permits; import/export prices; industrial production Wednesday, August 19: FOMC minutes from the July 28–29 meeting (2:00 PM ET) Thursday, August 20: Weekly jobless claims; Philadelphia Fed Manufacturing Index; leading economic indicators Friday, August 21: Flash Manufacturing and Services PMIs; Jackson Hole Economic Symposium begins
What to Watch Retail earnings will offer one of the clearest reads yet on the health of the U.S. consumer following last week's weak retail sales and sentiment data. Home Depot and Lowe's will speak to housing-linked spending, while Walmart and Target provide a broader cross-section of consumer behavior across income levels. Wednesday's FOMC minutes are likely to draw close attention as markets look for detail on how divided the Fed was at its July meeting and how officials are weighing further rate cuts against still-elevated inflation. The Jackson Hole Symposium also opens Friday, setting the stage for further Fed commentary in the weeks ahead. Geopolitical and Energy Considerations The Strait of Hormuz remains a live flashpoint. Iran's naval leadership has publicly asserted control over the strait, and the U.S. has maintained a military posture in the region in response. Oil prices have stayed elevated as a result, which continues to be a factor worth watching alongside inflation data in the weeks ahead. The situation remains fluid, and we will continue to monitor developments as part of our broader macro view. As always, we encourage clients to stay focused on their individual goals and time horizons rather than reacting to any single week's headlines. Weekly Market Recap Link About Stacey Important Disclosures
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