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Week 29 (13–17 July) began with cautious optimism as Q2 earnings season kicked off in earnest. Better-than-expected results from the major US banks and softer-than-forecast producer price data set a constructive early tone. By Friday, however, renewed doubts about the sustainability of the AI boom — combined with fresh US-Iran tensions — sent technology stocks lower and pulled the broader index into the red. The S&P 500 now stands +8.8% year-to-date.
A four-day trading week packed four weeks of drama: WTI crossed $100 for the first time in years, August CPI kept the pressure on, and the S&P 500 fell for a fourth consecutive session before Friday's relief rally closed the week on a calmer note. →
A sharp US-Iran re-escalation rattled Monday, mid-week dovish Fed signals lifted sentiment, then Friday's blowout jobs report reversed it all: leaving the S&P 500 essentially flat and the September FOMC wide open. →
A blowout Nvidia quarter confirmed the AI cycle is intact, but Fed Chair Warsh's hawkish Jackson Hole debut sent rate hike odds surging and rattled gold, silver and Bitcoin on Friday. →
Rising long-term Treasury yields, a Walmart-shaped consumer warning, and surging Bitcoin combined for a volatile week, but the combined portfolio again beat a falling market. →
A quiet week by recent standards delivered exactly what markets needed: benign CPI and PPI data, no Fed surprises, and a third consecutive weekly gain for the S&P 500. →
