Insights

The benchmark indexes closed lower last week, snapping a multi-week winning streak. Despite a rally last Friday, stocks retreated in response to elevated Treasury yields, rising crude oil prices, mixed corporate earnings, and weakness in key tech and mega-cap shares.

The stock market closed generally higher last week, despite a minor setback last Friday. Market momentum was driven by cooling inflation data, solid Q2 corporate earnings reports, and strengthening opinions that the Federal Reserve may posture a more dovish approach to interest rates in the near term.

Wall Street ended last week on solid footing, with each of the benchmark indexes listed here posting notable weekly gains, capped by a Friday rally. The market was buoyed by strong Q2 corporate earnings results and a cooler-than-expected labor report, which quelled immediate fears of aggressive monetary tightening in the near term.

The last week of July was an event-heavy one for Wall Street. Investors had to evaluate the impact of significant Q2 earnings results, a Federal Reserve rate decision, the latest gross domestic product report, and more inflation data.

Despite a broad-based rally last Friday, stocks generally closed the week lower. With the exception of the Global Dow, each of the benchmark indexes listed here ended last week in the red. Ongoing tensions in the Middle East have wreaked havoc with crude oil prices, which jumped to over $100/barrel last Thursday, only to plunge to about $90/barrel by the end of the week.

Wall Street experienced a downturn last week. Investors were in a "risk-off" mood as the war in Iran escalated, while AI and semiconductor shares dropped, which dragged the overall market lower. Each of the major market indexes lost value, ending a streak of favorable weekly performances.

Wall Street began last week with a heavy sell-off as investors appeared anxious about the U.S.-Iran war, elevated inflation, and fears of a potential tech correction. However, stocks staged a massive turnaround midweek, driven by easing tensions in the Middle East and the largest initial public offering in U.S. financial history.

Last week's trading session was shortened as the markets were closed on Friday, July 3, in honor of Independence Day.