Unify Financial Advisors Weekly Market Update
After a slow start, the S&P 500 finished the week up 0.59%, with technology and utility stocks leading the way. Investors balanced tariff talks with strong earnings reports and better-than-expected retail sales.
The US consumer showed a resurgence in June, with retail sales rising 0.6% in June and 3.9% year-over-year and consumer sentiment improving. The Consumer Price Index (CPI) rose 0.3% in June, its highest monthly gain since January, but Core CPI (excluding energy and food) rose 0.2%, meeting expectations. Shelter costs were the primary contributor to the monthly gain in CPI. Meanwhile, wholesale inflation remained flat, as the Producer Price Index (PPI) was unchanged in June.
Weekly Outlook
Corporate earnings and tariffs negotiations should be primary drivers for equities this week. Notable earnings reports are: Chipotle, Google, IBM, Tesla, and Intel.
For a more detailed analysis of last week’s markets and economic trends, check out the latest issue of Market Week.
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David Bennett