Stock markets ended the week lower despite a Friday rebound, with the Dow Jones losing 1.6%, the S&P 500 falling 0.8%, and the Nasdaq dropping 0.7%. West Texas Intermediate crude oil prices exceeded $100 per barrel for the first time in nearly four months, posting a weekly gain of over 9%, while the 10-year U.S. Treasury yield hit 4.95%, its highest level since October 2023. The probability of a Fed rate hike in September rose to 87%, up from 58% the prior week. However, Meta Platforms and Apple provided reasons for optimism with artificial intelligence advancements: Meta launched the Muse Spark 1.3 model and Muse personal AI agent, with shares gaining 5% for the week, while Apple saw its stock rise nearly 4% following the launch of its $1,999 foldable iPhone Duo.
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