Weekly Financial Market Update August 17, 2018

Economic turmoil in Turkey and weakness in Chinese technology companies led the MSCI Emerging Market stock index to decline nearly 4.0% in the first four days of the week. The S&P 500 Energy sector was a drag on domestic equities, declining over 3.0% this week in response to the Energy Information Administration's report that U.S. crude oil inventories jumped last week by almost three times the amount expected by analysts. 

Developed market equities rebounded last Thursday and Friday following favorable second-quarter earnings reports, stability in emerging markets and commodity prices, and the announcement that the U.S. and China will resume trade talks later this month. 

Read more about these financial developments, new home construction and retail sales in the Weekly Financial Market Update below.