Wall Street closes week with losses

The US stock indices ended the week with losses, despite gains on Friday, after inflation data and expectations of interest rate hikes by the Federal Reserve strengthened expectations of monetary tightening. The S&P 500 rose by 0.86% to reach 7,656.98 points, the Nasdaq increased by 0.96% to 26,333.04 points, while the Dow Jones Industrial Average advanced by 0.98% to 52,573.29 points. However, over the week, both the S&P 500 and Nasdaq declined by 0.8% and 0.7%, respectively, due to inflation concerns and rising Treasury yields. August's consumer price index data led to expectations of further rate hikes, with probability estimates reaching up to 90% for an increase at the upcoming Federal Reserve meeting. Additionally, technology companies such as Dell, Hewlett-Packard, and HP announced positive earnings, supporting the market despite declines in shares like Oracle. In related news, oil prices fell to around $104.61 per barrel for Brent crude but remained up by 8% for the week, as stock markets continued to face pressure from rising Treasury yields and escalating economic growth expectations.

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