July Market Update
3 things to know about the month of July:
- U.S. equities pulled back modestly: The S&P 500 and Nasdaq both declined for the month, while the Dow posted a small gain. The Nasdaq experienced its weakest July in many years as technology stocks faced pressure toward month-end.
- Interest rates moved higher: Treasury yields rose during July as inflation remained elevated and the Federal Reserve maintained a cautious, hawkish stance. The 10-year Treasury yield approached 4.70%, creating headwinds for bonds.
- Earnings remained a bright spot: Despite market volatility, corporate earnings, particularly among large technology companies, continued to come in strong. Investors remained focused on AI-related spending and whether those investments are translating into stronger earnings growth.
Check out Drew’s full recap in the video below.
File #: 5822709