Market views heading into the week highlight what we're watching and important news ahead.
Investment Advisory Group
Truist Advisory Services, Inc.
A look back
The S&P 500 hit another all-time high last week, touching above 5,600 for the first time ever, although it was up only 0.9% for the week, while international developed markets were up 2.3%.
Treasury yields fell last week with short-dated yields dropping more. The 2-year yield sank by 0.15%, while the 10-year yield fell just 0.09%.
The Consumer Price Index cooled in June; headline inflation was negative for the month, while inflation excluding food and energy rose just 0.1%. This brings the year-over-year reading to 3% for headline and 3.4% for core, both down.
A look ahead
The European Central Bank will likely hold their benchmark interest rate steady this week after cutting at their last meeting in June.
Retail sales for June are expected to decline on a headline basis, but excluding autos and gas, consensus is looking for a 0.3% rise.
Second quarter earnings will continue this week with more financial services companies reporting.
Economic releases: Retail Sales, Import & Export Price Index, Building Permits, Housing Starts, Federal Reserve Beige Book, Leading Index.
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