🌍 This Week’s Market Highlights

1. Stocks Continue Rallying

The S&P 500 and Nasdaq closed at new all-time highs this week, driven by strong retail sales, jobless claims data, and upbeat Q2 earnings from tech giants like TSMC, Nvidia, PepsiCo, and United Airlines Morningstar+15AP News+15Barron’s+15MarketWatch+5Investopedia+5Barron’s+5Reuters. Citadel’s Scott Rubner also flagged favorable historical patterns for July, describing it as a “seventh inning” in the rally MarketWatch.

2. Inflation Dynamics & Treasury Yields

June’s CPI showed cooling inflation, but rising jobless claims and tariff concerns have pushed the 10-year yield back toward 4.45%—eroding early-week dovish bond sentiment Barron’s+8MarketWatch+8AP News+8.

3. Gold Slides Amid Data Strength

Gold dropped approximately 1% to around $3,314/oz as stronger macro data and dollar gains reduced safe-haven demandThe Times+6Reuters+6Reuters+6. Nevertheless, it maintains year-to-date gains of over 25%.

4. Geopolitical & Trade Pressure

President Trump’s tariff threats and copper duties continue to echo. However, stock markets have shown resilience—for now—as investors await more clarity on trade implications.

5. Volatility Staying Low

Despite multiple triggers this week—including rumors about Fed Chair Powell—the VIX dipped to its lowest level since March, signaling subdued investor fear.

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🔭 What to Watch Next Week

• Fed Meeting Minutes & July PCE Data: Key for insights into rate-cut timing and stickier inflation.

• Corporate Earnings: Continued releases in tech, consumer, and industrial sectors could tilt sentiment.

• Tariffs & Trade Headlines: Look for U.S.–China, EU, and Canada tariff developments, as well as copper and semiconductor impact.