US stock indices closed mixed on Friday as Treasury yields rebounded, rekindling concerns about a deteriorating macroeconomic backdrop. The S&P 500 inched 0.2% higher and the Dow inched 95 points lower, while the Nasdaq added 0.7%. The 10-year yield rebounded as persistent uncertainty over Middle Eastern oil supplies drove fuel and natural gas prices higher. The threat of energy-driven inflation has affected underlying consumer prices, prompting the Fed to hike rates this week. Most FOMC members saw the need for another hike. Credit-sensitive sectors fell, with banks and asset managers posting losses. Bank of America lost 0.8%, while Goldman Sachs fell 1%. AI hyperscalers were mostly lower amid their debt issuance spree to fund capital expenditures. Meta shed 2.4%, while Oracle lost 2%. Chipmakers were mostly higher, with Broadcom up 3% and Micron rising 3.9%, offsetting losses in the Nasdaq. On the week, the Dow shed 733 points, the Nasdaq rose 2.6% and the S&P 500 gained 0.7%.

US Stocks Close Mixed as Yields Rebound

Argentina’s trade surplus widened to $2.19 billion in August 2026, up $746 million from the same month of 2025. Exports totaled $8.88 billion, increasing 12.4% year over year. All categories recorded higher export values than in August 2025, except primary products, which declined 14.2%. Energy and fuel exports grew 41.2%, manufactured industrial goods increased 18%, and manufactured agricultural goods rose 16.7%. Imports totaled $6.70 billion, up 3.6% year over year. The economic-use category with the largest percentage increase was fuels and lubricants, which rose 68.5%. Intermediate goods increased 13.4%, while capital goods imports rose 3.1% and consumer goods purchases declined 5.1%.

Argentina Trade Surplus Widens in August

The war in the Middle East will continue to dictate energy prices and financial markets as major central banks have hiked rates to combat inflation, while calls to slow AI advancement could impact the sector that has supported global stocks, credit issuance, and commodities. These matters, in addition to trade, are expected to lead focal points in the highly anticipated meeting between US and Chinese Presidents Trump and Xi. US economic data releases will be headlined by durable goods orders. The US will also join the Eurozone aggregate and major economies, Japan, Australia, and India in PMI results. In turn, Australia will release its labor data, and India is set to publish infrastructure output. Lastly, central bank decisions are awaited in China, Switzerland, Sweden, Norway, Mexico, and Indonesia.

Week Ahead - Sep 21st

The CAC 40 fell 1.5% to close at 8,065 on Friday, retreating after two consecutive sessions of gains as oil prices pared losses. The oil rally resumed after satellite imagery and industry sources indicated that three pumping stations serving Saudi Arabia’s vital East-West Pipeline were damaged in last week’s attack, one more than previously assessed, while the repair timeline remains uncertain. Luxury stocks fell amid higher risk aversion, with Hermes losing 3.2%. French bond yields moved higher amid concerns over energy-driven inflationary pressures. Financials also declined, with BNP Paribas down 2.9%. Meanwhile, the Fed and the BoJ raised rates earlier this week, while the BoE left interest rates unchanged. Still, traders pared back bets on further ECB tightening despite the Fed’s more hawkish stance, as concerns that persistently high energy prices could weigh on economic growth and eventually temper inflationary pressures. The CAC 40 shed 1.4% on the week.

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US Stocks Close Mixed as Yields Rebound

Argentina Trade Surplus Widens in August

Week Ahead - Sep 21st

CAC 40 Retreats as Oil Rally Resumes