S&P 500+0.39%▲: closed at 7,544.29, with Communication Services the top-performing sector and Real Estate the weakest. Nasdaq+0.90%▲: closed at 26,107.01, led by select large-cap technology rebounds. Russell 2000+0.39%▲: closed at 2,964.76, small-cap indexes finished modestly higher. Dow+0.02%▲: closed at 52,508.27, essentially flat after mixed sector moves. VIX-3.85%▼: closed at 16.50, reflecting lower measured volatility on the session. Crypto: BTC near mid‑$60k and ETH near the low‑$1k to high‑$1k range, ending the day mixed. What's driving the market this week Renewed strikes and a reinstated blockade in the Strait of Hormuz have reduced tanker traffic and supported oil price upside, a tangible geopolitical supply concern for energy markets. . Large secondary and block share offerings from recent IPOs have increased available equity supply in the market, presenting a concrete source of selling pressure for specific names. . Legal filings allege the use of AI in recent high‑profile layoff selections, creating headline risk for major technology employers and adding to sector‑specific volatility. . Inflation prints showing a monthly drop in June also shaped positioning this week, as official data recorded a 0.4% decline for the CPI in June.