As of Sunday, August 23, 2026, the S&P 500 sits at 7,674.37 — Friday's close — after a five-session week (Mon Aug 17 → Fri Aug 21) that delivered a -0.91% decline and snapped a three-week winning streak. The week's narrative: the August 17 expiry of the 60-day US-Iran ceasefire window pushed Brent to $94.39 and re-ignited the inflation-fear premium. Healthcare led (XLV +4.53% WTD, best sector); gold surged (GLD +4.41% WTD); oil outperformed (USO +3.34% WTD); tech and utilities lagged (XLK -3.68%, XLU -3.19%). The 10Y closed at 4.74% (+4.2 bp Friday, +1.4 bp WTD); VIX compressed to 15.13 (-0.39% WTD) — selloff without a vol spike. The 1-month 7,800 target is +1.64% above; 3-month 7,900 is +2.94% above; year-end 8,000 is +4.24% above. Week ahead: July PCE (Wed Aug 26), Nvidia Q2 FY27 (Wed), Warsh's Jackson Hole keynote (Fri Aug 28), September 15-16 FOMC.