Unify Financial Advisors Weekly Market Update
Markets ended the week higher after overcoming early volatility tied to renewed tensions in the Middle East. Technology stocks led the advance, supported by a strong U.S. market debut from a major South Korean chipmaker, while energy shares also gained as oil prices climbed on continued supply concerns in the Strait of Hormuz. Consumer discretionary, industrials, and materials lagged.
Economic data varied last week. Service-sector activity improved modestly, though inflation pressures remained elevated. Existing home sales declined in June, the trade deficit widened in May, and unemployment claims edged lower, suggesting a labor market that continues to show resilience despite signs of slower economic activity.
Weekly Outlook
Investors will closely watch this week’s Consumer Price Index (CPI) and Producer Price Index (PPI) reports for the latest read on inflation and potential implications for interest rates.
Please read the full Market Week report for details on last week’s market and economic activity.
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Regards,
David Bennett