Unify Financial Advisors Weekly Market Update
Markets ended the week lower despite a broad rally on Friday, with the Global Dow being the only major index to finish positive. Volatility in the Middle East drove sharp swings in oil prices, while Treasury yields climbed to their highest levels since January. Energy, industrials, technology, utilities, health care, and materials outperformed, while consumer discretionary, consumer staples, and communication services lagged.
Economic data was mixed last week. New home sales edged higher in June, but prices and year-over-year sales remained lower. Initial unemployment claims declined, signaling continued labor market resilience, while gasoline prices moved higher nationwide amid rising energy costs.
Weekly Outlook
Investors will focus on the Federal Reserve’s interest rate decision, along with second-quarter GDP and June inflation data. Corporate earnings continue this week with Microsoft, Meta, Apple, and Amazon all set to report.
Please read the full Market Week report for details on last week’s market and economic activity.
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David Bennett