The Week in One Thought
The Fed finally moved, but AI and semiconductors kept fighting back.
It was a volatile week for stocks as the Federal Reserve raised interest rates, Treasury yields pushed above 5% and oil remained above $100 a barrel. Even with those macro pressures, strength in semiconductors helped the Nasdaq finish the week higher while the broader market struggled.
The Market: Rates, Oil and the Fed Drove the Week
Friday ended quietly compared with the rest of the week. The S&P 500 gained 0.17%, the Nasdaq rose 0.40% and the Dow slipped 0.18%. For the full week, the S&P 500 finished with only a small loss, the Nasdaq ended higher, and the Dow posted its largest weekly percentage decline since March.
The Big Story
The Fed raised rates for the first time in more than three years.
The Federal Reserve raised its benchmark rate by 25 basis points Wednesday as inflation remained a concern. Markets now have to weigh the possibility of additional tightening against a still-resilient economy and continued investment in AI infrastructure.
Oil and Yields Kept the Pressure On
Crude oil remained above $100 a barrel late in the week, keeping inflation concerns alive. At the same time, benchmark Treasury yields moved above 5%. That combination created a difficult backdrop for equities and helped keep traders sensitive to every move in rates and energy prices.
Semiconductors Helped Tech Fight Back
Despite the macro pressure, semiconductor strength helped the Nasdaq outperform into Friday. That split was one of the clearest themes of the week: the broader market remained cautious, while selected AI and semiconductor names continued to attract buyers.
Dagger Trading Spotlight Updates This Week
Several of the levels from our existing Stock Spotlights were tested this week, giving us plenty to update. Rather than starting new pages, each update was added to the stock's existing living Spotlight so the original analysis and follow-ups stay together.
DELL: Breakout Reaches a New All-Time High
DELL finally broke above the $562.98 area and pushed to a new all-time high near $593.98. The latest update maps the new support and resistance areas after the breakout.
Read the Updated DELL Spotlight →
ORCL: Support Responds, but Resistance Still Matters
ORCL bounced from the area around its daily 50-day moving average near $140.70. Friday closed at $147.25 after $146.50 held as support, while the original $150.92 resistance area continued to matter. The latest update focuses on that battle between support and resistance.
Read the Updated ORCL Spotlight →
SPCX: The Roadmap Shifts Higher
SPCX broke above the important $152.59 area, cleared prior upside levels and reached $156.87. The updated Spotlight moves the roadmap higher while keeping the important support areas in view.
Read the Updated SPCX Spotlight →
AVGO: Buyers Return as the AI Story Stays Strong
AVGO reached $363.25 Friday after reclaiming several levels from the prior roadmap. CEO Hock Tan also reiterated strong long-term AI demand, with Broadcom expecting AI semiconductor revenue of $115 billion in fiscal 2027 and $230 billion in fiscal 2028. The latest Spotlight maps the next areas to watch after the recovery.
Read the Updated AVGO Spotlight →
What the Week Taught Us
This week was another reminder that the market does not have to move as one. Rates, oil and inflation created pressure across the broader market, but individual AI and semiconductor names still produced strong moves. That is why the reaction at key levels matters just as much as the headline.
Watch the levels. Watch the reaction. Momentum is key.
Going Into Next Week
The Fed decision is behind us. The rate path is not.
With the September decision complete, attention now shifts to what comes next. Treasury yields, oil prices and comments from Fed officials can remain important market drivers, while traders continue watching whether strength in semiconductors can broaden out to the rest of the market.
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Sources
- Reuters — September 18 market close and weekly recap
- Reuters — September 16 Fed decision and market reaction
- Federal Reserve — September 15–16, 2026 FOMC meeting
- Benzinga — Broadcom AI outlook, September 18
Stock-specific price levels in the DELL, ORCL, SPCX and AVGO sections are based on Dagger Trading's chart analysis and the corresponding Spotlight updates published during the week.
Content is educational and informational only and is not financial advice.