Markets treaded water at midday as AI strength in semiconductors and chipmakers offset broader weakness in traditional sectors. The S&P 500 drifted near flatline after posting a third consecutive weekly gain, while geopolitical tensions and upcoming retail earnings kept traders cautious.
→ Retail earnings cascade starting Tuesday—Consumer spending health is the key question for Fed policy
→ Brent crude at $88/barrel and rising; Iran tensions could push oil higher and complicate Fed's rate path
→ FOMC meeting minutes on Wednesday; market looking for hawkish/dovish signals on rate timing
→ Tech and AI moats vs. economic slowdown signals—divergence persisting between Nasdaq strength and Dow weakness into the close