U.S. stock markets had a mixed week, with the S&P 500 and Dow Jones Industrial Average on pace for a losing week after the Fed raised rates for the first time since 2023. The central bank signaled one more rate increase in 2026, with futures pricing in roughly 42% odds of two additional hikes. Strategist Ed Yardeni cut his year-end S&P 500 target to 7,900 from 8,400, citing increased downside risks. The upcoming U.S.-China summit in Washington next week could be a key market driver, with few breakthroughs expected on tariffs or AI, but any cooperation or escalation potentially having significant implications for oil prices and equity markets.
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