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 Key events: USA - S&P Global Services PMI (Sep)                             US stocks faced a decline, while Treasury yields rose following the Federal Reserve's indication of maintaining higher interest rates, including a potential increase later this year. Interest rate-sensitive mega-cap stocks, notably Amazon.com (NASDAQ: AMZN), Nvidia Corp (NASDAQ: NVDA), Apple Inc (NASDAQ: AAPL), and Alphabet (NASDAQ: GOOGL) Inc, exerted downward pressure on the S&P 500 and Nasdaq, pushing them to their lowest closing levels since June.

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Key events:   USA - Core Durable Goods Orders (MoM) (Jul) USA - Initial Jobless Claims The closing of Wednesday witnessed a pronounced surge in US stocks, prominently propelled by the escalating value of Nvidia (NASDAQ: NVDA) shares ahead of the company's quarterly financial disclosures. Nvidia's chips enjoy widespread utilization for artificial intelligence (AI) computing purposes.

Key events:   USA - Building Permits USA - S&P Global US Services PMI (Aug) USA - New Home Sales (Jul)   USA - Crude Oil Inventories Global stock markets attempted a comeback on Tuesday, but the momentum was dampened as benchmark Treasury yields surged to levels not seen in nearly 16 years. Concerns about prolonged higher interest rates contributed to the strength of the safe-haven dollar, which remained close to its 10-week peak.

Key events:   USA - Initial Jobless Claims   USA - Philadelphia Fed Manufacturing Index (Aug) While European markets have experienced a lack of clear direction this week, displaying a slight downward trend, the FTSE 100 is poised to record its most significant weekly decline in over a month. The UK's inflation data released yesterday morning has boosted the value of the pound. However, it has simultaneously placed UK-centric stocks in a less favorable position.

Key events:   Japan - GDP (QoQ) (Q2) USA - Core Retail Sales (MoM) (Jul) USA - Retail Sales (MoM) (Jul) European markets embarked on a cautiously optimistic note at the onset of the week, aiming to rebound from two weeks of declines, despite lingering concerns about the Chinese real estate sector's impact on the FTSE100.

Key events: China - Manufacturing PMI (Jul) Eurozone - CPI (YoY) (Jul) On Friday, the Dow Jones Industrial Average concluded with a gain, marking its third consecutive weekly victory as investors showed a strong interest in prominent tech and chip stocks. The surge came in response to a decline in Treasury yields, triggered by signs of decelerating inflation, which bolstered optimism that the Federal Reserve had likely delivered its final interest rate hike earlier in the week.

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Key events: USA - Initial Jobless Claims USA - Philadelphia Fed Manufacturing Index (Jul) USA - Existing Home Sales (Jun) During Wednesday's evening trading, Dow futures were showing a decline after major benchmark averages reached new 15-month highs earlier in the day. Traders were closely examining the quarterly earnings results from significant companies that were reported throughout the session. The market was in a phase of digesting this corporate financial data to gauge its impact on future trends.

Key events: USA - Juneteenth Eurozone - ECB's Lane Speaks Eurozone - ECB's Schnabel Speaks The S&P 500 closed lower on Friday due to the influence of market heavyweights like Microsoft, following comments from two Federal Reserve officials that dampened optimism regarding the central bank's imminent completion of aggressive interest rate hikes.