Unify Financial Advisors Weekly Market Update
Markets finished the week lower as escalating conflict in Iran fueled a risk-off sentiment, and weakness in AI and semiconductor stocks weighed on major indexes. Energy stocks outperformed as crude oil climbed to its highest level in a month, while investors shifted away from large-cap technology shares. Last week kicked off a strong Q2 earnings season. Of the 10% of S&P 500 companies that have reported, 88% have beaten estimates.
Recent economic reports painted a mixed picture. Consumer and producer prices declined in June, while retail sales and industrial production posted modest gains. Housing starts rebounded despite fewer building permits, and initial unemployment claims declined, reflecting continued labor market stability.
Weekly Outlook
This week’s economic calendar is relatively light, with June new home sales serving as the primary release after sales declined in May despite higher home prices. Notable companies reporting earnings this week are Coca-Cola, Charles Schwab, Google, Tesla, American Express, and Intel.
Please read the full Market Week report for details on last week’s market and economic activity.
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Regards,
David Bennett