All major indices ended the week lower as the middle east conflict escalated, with no clear path toward a peaceful resolution. The closure of the Strait of Hormuz by Iran further drove up energy prices. On the economic front, CPI data came in largely in line with expectations, though higher energy costs could put upward pressure on headline inflation. Meanwhile, January JOLTS data showed job openings rose to 6.9 million, modestly easing concerns about AI-related job losses.