Unify Financial Advisors Weekly Market Update
After reaching record highs the prior week, the S&P 500 fell 2.36% last week, its worst showing since May. A weaker-than-expected July jobs report and newly imposed US tariffs drove investor concern about future economic growth. However, the first estimate of Q2 GDP rebounded at a 3.0% annual rate, driven by a drop in imports and modest consumer spending growth. Meanwhile, treasury yields fell sharply as expectations for a September Fed rate cut rose.
Weekly Outlook
Economic data will be light this week, with international trade and the S&P Global Services PMI due Tuesday. Investors will likely focus on corporate earnings reports and evolving trade policy. Read the full Market Week report for details on last week’s market and economic trends.
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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Regards,
David Bennett