Stocks saw noticeable pressure to close out a second-straight weekly drop as September seems to be living up to its typical volatile norm. The Materials sector was the worst performer as metal prices continue to soften, while heavyweight Information Technology issues applied the most downside pressure. The markets continued to grapple with uncertainties regarding the Delta variant, global monetary policy tightening timing, fiscal stimulus, and persistent supply-chain challenges. Volume and volatility were likely bolstered on this quadruple witching day where options and futures contracts on stocks and indexes simultaneously expire. The economic calendar showed preliminary September consumer sentiment improved from the prior month's tumble but at a pace that was below forecasts. Treasuries were lower to lift yields and the U.S. dollar gained ground. Crude oil prices were lower, and gold extended a second-straight weekly drawdown. In equity news, United States Steel Corporation fell despite issuing stronger-than-expected guidance, General Motors extended downtime at some North American plants due to the global chip shortage, and Thermo Fisher Scientific offered guidance that trounced the Street's forecast. Europe finished lower to close out the choppy week, while Asia finished mostly higher as China and Hong Kong trimmed weekly drawdowns.

Stocks down rates up, as S&P flirts with 50-day SMA.

Shipping Bottlenecks and Poor Weather Provide Support for Coffee Futures