I'm Jessica Ettinger, CNBC. Wall Street

opens Monday morning after a mixed

Friday for the major averages. Stocks,

bond yields, and oil prices all

zigzagging pretty much all week on Iran

war-related headlines. Late Friday,

President Trump threatened more and

bigger tariffs on the European Union. On

Friday, the Dow was in the green up 235

points. Salesforce shares led it higher.

They were up 4%. IBM up 3 and 1/2%. The

S&P 500 index was up 3 points. The

Nasdaq was in the red down 161

points on Friday. Companies whose shares

hit fresh all-time highs Friday include

Travelers and Allstate, JPMorgan and

Bank of America, plus defense names like

Raytheon, RTX, Howmet Aerospace, and

General Dynamics. Major averages all in

the red for the week and all down for at

least 2 weeks in a row now.

And of the Magnificent Seven stocks, big

tech names, only Nvidia notched a

winning week.

>> Wednesday was the biggest drop of Mag

Seven versus the S&P in 4 years. Uh,

some analysts are saying, "Should we

even call it the Mag Magnificent Seven

anymore?"

>> Wharton Professor Jeremy Siegel on CNBC.

Paramount agreeing to delay its purchase

of Warner Bros. Discovery until a court

rules on its legality, which could save

Paramount from substantial fees if the

deal doesn't close by the end of

September. Investors are setting up for

what will be the busiest week of earning

season this quarter in the coming week.

Here's Hightower's Stephanie Link on

CNBC.

>> Meta and Amazon are are the big ones,

and Microsoft, of course, too. And uh I

think the biggest question mark uh out

there is how much are they going to

increase CapEx, cuz they are.

>> The US war with Iran enters month six in

the coming week. Here's Baird's Ross

Mayfield on CNBC.

>> An escalation and a protracted conflict

that lasts into 2027 would be a huge

risk-off event. It's hard to argue that

that wouldn't have a severe impact on a

consumer who's already squeezed. The

consumer is still 60-70% of the US

economy and even with the AI trade

front and center, it's really hard to

keep things going if the consumer is not

engaged and you know, we know what

higher gas prices and higher inflation

do to consumer budgets, especially on

the lower income into the spectrum.

>> Would-be homebuyers out looking at

houses over the weekend facing the

highest mortgage rates in a year.

Mortgage News Daily had the average rate

on a 30-year home loan inching towards

7% at 6.81%

on Friday.

Zelman Associates Ivy Zelman on CNBC on

mortgage rates.

>> It seems as if we have oil a little

problem with inflation, so it feels like

we're going to be at these levels or

possibly higher unless we

somehow exit the conflict in the Middle

East. So, I'm not that

optimistic, frankly.

>> And home builders sold more homes than

expected last month before mortgage

rates popped with the escalation of the

war with Iran.

>> We're worried that we're going to see

softening with rates moving higher, but

builders have seen some benefit from

lower costs and that's been helping them

stabilize margins, but unfortunately

lumber's now back to a you know, the

highest it's been in a year. So, there

are a lot of moving pieces and I'd say

it's choppy.

>> On the coming week's watch list, as we

mentioned, it's the busiest week of

earning season. We're going to hear from

four Magnificent Seven tech names:

Apple, Amazon, Microsoft and Facebook

parent Meta, plus Coca-Cola and Ford,

just to name a few. The Fed meets on

interest rates. We also get the latest

on economic growth and consumer

sentiment. You get all the details on

these stories, plus more in business at

cnbc.com.

I'm Jessica Eding er CNBC.