Happy Friday – here’s a quick rundown on what happened this week.
📊 Weekly Market Recap
- S&P 500 returns in the past week have been about 1.05%
- S&P 500 returns so far in July have been about 4.45%
- S&P 500 return year-to-date has been approximately 8.43%
This Week in the Markets- 3 Things to Know
- Stocks were all over the place this week — the S&P 500 was flat while the Dow held its ground, boosted by gains in defensive sectors. Meanwhile, earnings season kicked off strong with JPMorgan and Delta delivering solid results, but PepsiCo stumbled a bit with soft international sales.
- Inflation cooled in June, with prices up just 3% from last year — fueling hopes that the Fed might finally start cutting rates soon.
- Tesla turned heads with a free cash flow number that was a 89% decline from last year. They’ve faced a ton of issues (some very much self-inflicted)
Following up with last week, it’s looking more and more like the Fed might finally have the cover it needs to pull the trigger on a rate cut. Inflation cooled in June, rising just 3% compared to a year ago, the slowest pace we’ve seen in over two years. That’s a big deal. It means the Fed’s tightening campaign has largely done its job, and the pressure on everyday consumers is easing, at least a bit. For Powell and company, this could be the “out” they’ve been waiting for a chance to cut without it seeming like they’re caving to political noise, especially with Trump turning up the heat.
The June inflation data gives the Fed a clean narrative- the economy’s cooling, inflation is in check, and now’s the moment to start dialing things back. If they do cut next meeting — and it’s looking more likely — don’t be surprised if they act like it was all part of the plan. More on that when it happens.
S&P 500 SECTOR SNAPSHOT- Past Month
Top Movers In the Market This Week
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