Oil prices surged 7% on Friday after Israel attacked Iran’s nuclear infrastructure, causing global market volatility. This led to a decline in stocks, with the S&P 500 falling 1.1% for the day and 0.4% for the week. The new week saw equities trade narrowly within a range before this news broke late Thursday.
Source: https://www.barrons.com/articles/fed-interest-rate-decision-economic-data-earnings-what-to-watch-6f427c05