U.S. stocks are closed today, but the week’s market narrative has centered on renewed expectations for a September interest-rate hike. Persistent inflation, strong nonfarm payrolls and elevated oil prices have reinforced that view, leaving upcoming PPI (Producer Price Index) and CPI (Consumer Price Index) reports as key tests for how long the positioning can continue. At the same time, AI hardware remains strong, with Micron, memory stocks and semiconductor-equipment companies continuing to advance as new devices from major technology companies arrive in quick succession.